Sweden's bankrupt Saab finds buyer

Administrators for Saab say they have found a buyer for the ailing Swedish automaker.

General Motors said Tuesday it had received "expressions of interest" for its Swedish unit Saab since a planned sale fell through last month, and would evaluate potential bids before the end of December.The US automaker indicated it was continuing to seek a buyer for Saab after Swedish luxury carmaker Koenigsegg and a Chinese partner gave up a bid due to costly delays.But GM said it may end the nameplate if it fails to find a suitable buyer.

The deal unloads the last major brand the bankrupt automaker had on the block. The price was not disclosed. Bankrupt General Motors Corp.

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Bankrupt Swedish car maker Saab on Wednesday seemed to have been rescued from insolvency as the administrators for the almost seven-decade old brand said they had found it a buyer.