GM Says 16 Parties Expressed Interest In Saturn Brand

Saturn brand vehicles currently produced by General Motors Corp. (GM) could stick around after the auto maker sells the brand, the company said Tuesday.

GM, which filed for bankruptcy protection Monday, is working to shed Saturn as part of sweeping plans to shrink the company and offload money-losing parts of the business.

In a presentation to analysts a day after its bankruptcy filing, GM said 16 parties have expressed interest in Saturn.

GM said it is in talks with potential bidders about continuing the Saturn product line after the sale.

Bidders have included auto retail giant Penske Automotive Group Inc. (PAG) and private equity firm Black Oak Partners LLC.

Read Full Article from Wall Street Journal

- Posted: 2009-06-02 10:54:08

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