The sell-off continues.
General Motors confirmed today that efforts to sell it's beleaguered Saturn brand and dealer network are ongoing, and that they hope to have a deal done by the end of 2009.
In a statement, the company said that "a number of potential buyers have surfaced and expressed interest in the Saturn brand and retailer network. GM will be reviewing expressions of interest from the potential buyers and will look to secure an agreement with a specific buyer later this year"
Last week, while announcing the elimination of its 83-year old Pontiac division, General Motors said that it will close the Saturn and Hummer brands if buyers can not be found for them by the end of the year.
The list of interested parties has not been released, but General Motors revealed in April that it was approached by private equity firm, Black Oak Partners LLC. With the cooperation of the parent company, the Saturn dealer network has also been shopping itself to foreign automakers looking for a foothold in the American market. It is widely believed that a number of Chinese and Indian concerns are among the company's suitors.