Saturn has bidders. That raises thorny questions.David Welch
Who would want Saturn? At least one bidder has popped up with an interest in buying the brand to set up a retail network to sell foreign cars and energy-efficient vehicles. An investor group that includes private equity firm Black Oak Partners has contacted both GM and the Treasury Department about buying the brand. The goal would be to stock Saturn retailers with green vehicles from small startups and high-mileage cars from foreign carmakers who would be new to the U.S. market. “We’re looking at a rebirth of the Saturn brand,” says John Pappanastos, CEO of EFG Companies, which is involved in the acquisition. “The brand has done a pretty good job of finding consumers who like the no-haggle purchase and a green vehicle.”
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