Saab bidder Brightwell Holdings says it is "shocked" and "very upset" after withdrawing from the bid to secure approval to restart production at the Swedish automaker.
The Turkish private equity company claims "intransigence" by GM led to its decision to ditch any prospective buyout - a view the Detroit manufacturer has refuted insisting its licencing technology "is not on the table."
Brightwell's ire stems partly from the fact it claims it spent millions of Euros to secure the right to restart production at the Swedish automaker's Trollhattan base and has expressed bafflement at GM's position.
"Shocked is an understatement," Brightwell Holdings partner Zamier Ahmed told just-auto. "I am very, very upset. We have spent millions of Euros getting together collaborators and using third parties, as well as in-house - we really don't understand their intransigence.
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