M&M doesn't rule-out SAAB buy-out

As part of its aggressive growth strategy, which includes acquisitions like SsangYong and Reva, Mahindra & Mahindra (M&M) could acquire an automobile company that may not be in the SUV space.

Speaking to Autocar India, Pawan Goenka, president – automotive and farm equipment sectors said, “A strategic fit doesn’t mean it has to be an SUV company. A strategic fit may come in different ways like technology, distribution, infrastructure, and assets also”. Goenka was responding to a query on the reported interest of Mahindra & Mahindra in buying bankrupt Swedish car company SAAB.

“The most important thing for us to look at is what would we do that others before us couldn’t do to turnaround a company”, added Goenka. He did not say whether M&M has expressed any interest in buying SAAB or not.