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Updated Saturday, November 28, 2009 1:44 pm TWN, Bloomberg

Beijing Auto, Merbanco, Renco to approach Saab

BEIJING -- Beijing Automotive Industry Holding Co., Merbanco Inc. and Renco Group Inc. have made approaches about General Motors Co.'s Saab unit after a sale to Koenigsegg Group collapsed, two people familiar with the situation said.

No written proposals have been submitted and any new bids or other options for the Swedish unit will be reviewed by Detroit-based GM's board at a meeting on Dec. 1, said one of the people, who asked not to be identified because the discussions are confidential.

Koenigsegg said Nov. 24 it pulled out of talks to acquire Saab, saying it ran out of time to complete the transaction. Beijing Automotive was a partner in the investor group.

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