Mahindra & Mahindra interested in buying Saab Automobile, report

Mahindra & Mahindra interested in buying Saab Automobile, reportIndia's largest utility vehicle maker, Mahindra & Mahindra (M&M) might be interested in buying bankrupt Swedish carmaker Saab Automobile of at-least some parts of it, according to a report by Bloomberg.

The company is trying to contact two court-appointed administrators overseeing Saab's bankruptcy to buy parts of the carmaker or the whole company. Saab was declared bankrupt after years of efforts by Swedish Automobile NV SWAN. NS to maintain the company.

The company had stopped production in April and several rescue operations have already failed. Several parties have expressed interest in purchasing the whole company or parts of it. Hans Bergqvist and Anne-Marie Pouteaux, company receivers appointed by the court said in a statement that there are a number of Swedish and foreign players who have expressed interest in buying parts of the whole of the company.

Mahindra & Mahindra has recently acquired a 70 per cent stake in Korean SUV maker Ssangyong for $368 million. It also bought a majority stake in electric car marker Reva to expand its presence in the electric vehicle segment.

Mahindra & Mahindra has not offered any comments on the report.