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Saab bidders agree to restructuring plan

Saab bidders agree to restructuring plan
The Saab 9-4X BioPower is unveiled at the North American debut of the Saab 9-X BioHybrid in New York City on March 18, 2008. (UPI Photo/John Angelillo) . | License Photo

JARFALLA, Sweden, May 12 (UPI) -- Firms interested in bidding for Swedish car maker Saab Automobile have all agreed to a restructuring plan that would come with the purchase, the company said.

"Everybody is behind Saab's business plan," said Saab administrator Guy Lofalk, the Swedish news agency TT reported Tuesday.

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The plan calls for centering Saab's operations in Trolhattan in southwestern Sweden, the news agency said.

Out of 27 firms originally looking at the company, Saab has selected two or three as the final bidders, but would not release those names.

"For various reasons they have been considered to be the strongest. The criteria include financial strength and the willingness to take a more long-term approach," Lofalk said.

"The only thing I am prepared to say is that there are different nationalities," he said.

Analysts speculate Chinese automakers and Swedish automaker Koenigsegg joined together with Norwegian funding sources are in the running.

Italian automaker Fiat, which is pursuing a purchase of Opel from General Motors Corp., has also expressed interest in buying Saab.

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