Geely Visits Saab, Hints at Potential Agreement

After months of uncertainty regarding Saab's future, here we have the first official name that might become Saab's long-desired parent in the near future: Chinese auto group Geely has visited the Swedish unit to discuss a potential agreement. Furthermore, Geely representatives have talked about the deal "for an entire day" as Swedish newspaper Dagens Industri reported quoting a source familiar with the matter, which means that the Chinese automaker might be indeed interested in purchasing the struggling brand.

Another thing worth mentioning is that Geely requested Saab to name 10 potential suitors from the 27 interested parties it confirmed and asked the Swedish company to provide more information on their intentions, Autonews wrote in an article today.

Obviously, Saab could not be reached for comments which, in most cases, is the first sign that there might be something true behind the store.

However, this isn't the first time Geely is linked with the Saab acquisition. Back in March, an official statement of Jan-Ake Jonsson, Saab CEO, confirmed the company was negotiating with five interested parties, with media reports hinting that Geely Automobile could become favorite in buying the brand.

"There are about five we want to talk to. There are a couple more we are also looking into. We should see which candidates are serious in the next week and a half," Saab's CEO said at that time. "I hope in a month or two we will have at least some agreement with somebody."

It seems like the Geely board has made a passion for Swedish automaker, as the Chinese group has been previously linked with a deal with Volvo. A report published by Bloomberg in early February said that representatives of Geely met with Ford officials to discuss a potential agreement. But even so, Geely has always denied speculations, saying it has no interest in purchasing Volvo.

"We don't have plans to buy Volvo as some media have reported," a Geely spokesman, was quoted as saying by Reuters.