Genii Capital to team up with Bernie Ecclestone for Saab purchase

Genii Capital - which has been brought into the bidding process at a late stage by advisers close to the deal – has decided that, given an adequate and short timeframe for finalising its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company.

The investment group believes that it can add value to the car manufacturer by working on synergies with some of its portfolio companies in the areas of energy efficient engines, OEM components and on-board IT and media technologies. Specific Genii investments that would fit a Saab acquisition include the Renault F1 Team; MOV’IT, a specialised high performance brake systems design and manufacturing company; and MCE-5, a variable compression ratio engine technology.

Genii Capital believes that the automotive industry will see strong developments in energy efficiency and safety systems, but also in the area of on-board entertainment systems and innovative communications platforms such as VOIP and GPS location-based services. All of these areas being at the core of Genii Capital’s investment focus.

Genii also sees Saab as having a tremendous brand value in a number of key automotive markets as well as an innovative image allowing it to be at the forefront of the automotive companies that will be first to market innovative technologies in their cars.  

Bernie Ecclestone, co-investor in the potential deal, is a motor racing tycoon who is considered the primary authority on Formula One racing through his presidency Formula One Management and Formula One Administration and his ownership of Alpha Prema, the parent company of the Formula One Group.

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