GM: Buyer or Bye Saab!

As we're sure you know, Koenigsegg recently decided to scrap plans to purchase the Swedish unit Saab, leaving General Motors with only a few options. The US-based manufacturer announced that a final decision will be announced after the monthly meeting it will hold in early December and today, we got the first glimpse into what may happen to Saab.

In the last few days, there were more and more rumors regarding various parties that might become interested in buying the Swedish ailing carmaker, but none of them were confirmed. However, it appears that GM is indeed involved in sale talks with some companies, although their name is yet to be revealed.

In a statement rolled out today, GM confirmed the Saab's future has came down to only two options: either it founds a new buyer for the brand or it shuts down its global operations. The deadline has been set for the end of December.

"The GM Board of Directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time," GM said in a statement.

The company has already signed non-disclosure agreements with some bidders, so more information will be probably released in December.

"Due to non-disclosure agreements, we will not confirm or comment on any potential transactions or other matters unless, and until, we determine that disclosure is appropriate," it explained.