Ecclestone-backed group pulls out of Saab race 26/01/2010 |
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The Bernie Ecclestone-backed group looking to buy Saab from General Motors has withdrawn from the bidding.
Investment company Genii Capital has pulled out of race, leaving Spyker Cars as the only remaining bidder.
Genii said in a statement: "Genii Capital believes that the timing of the next stage of the shutdown process at Saab is not compatible with its requirements for putting in place a solid business platform for the future and closing the transaction.”
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