Report: BAIC may pursue Saab acquisition

Beijing Automotive Industry Corp (BAIC) may consider buying General Motors’ Saab brand following the likely failure of its attempt to buy GM’s Opel, the South China Morning Post reported, citing unnamed market sources. BAIC, the joint-venture partner of Germany’s Daimler, entered a bid for Opel in May, a day after the seller’s deadline; Canada’s Magna International has signed a letter of intent with GM to acquire the brand. Analysts said that BAIC’s interest is not limited to Opel, and that the company is examining other units that GM has put up for sale. Last week, GM signed a memorandum of understanding with Sichuan Tengzhong Heavy Industrial Machinery Co to sell its Hummer brand to the privately held company.