Tata Motors Makes $350 Million Bid For Saab Automobile’s Assets!

The worlds 3rd largest truck manufacturing company and 4th largest bus manufacturing company, India’s Tata Motors Ltd.  has made a $350 million bid for bankrupt Swedish auto maker Saab Automobile’s assets, the Financial Express newspaper reported Tuesday, citing people it said are aware of the matter.

The report said Tata’s global acquisition team has been in talks with Saab and private equity players for a prospective acquisition by its Jaguar-Land Rover unit.

Saab Automobile, owned by Dutch company Swedish Automobile NV, filed for bankruptcy in December, nine months after halting production due to a lack of funds.

The report said a Tata Motors spokesperson declined comment.

More Information: http://www.foxbusiness.com/news/2012/03/05/tata-motors-makes-350-million-bid-for-saab-automobiles-assets-report/#ixzz1pA9t1Nhs

Posted by Monesh Konchady on March 15, 2012. Filed under Car News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry