Turkish buy-out firm Brightwell Holdings eyes Saab


Istanbul-based private equity firm Brightwell Holdings has expressed an interest in buying bankrupt Nordic carmaker Saab, in a deal that is expected to fetch several billion Swedish crowns.

According to news reports, the Turkish firm, which focuses on investment opportunities in the energy, transportation and technology sectors, has confirmed that it is in talks with Saab’s administrators and that it will table an offer shortly.

The firm will bid alongside Chinese automobile major Youngman, which has been pursuing the company for some time. Any offer would reportedly require clearance from GM, the Swedish government and the European Investment Bank.

In September last year US private equity firm North Street Capital bought bespoke sportscar company Spyker from Swedish Automobile, Saab’s owner, for a reported value of €32m.

At the time the group had been fighting off the imminent threat of bankruptcy for months, and subsequently began looking for potential investors to acquire a variety of assets to pay off debts and resume production.

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