DUP MP Ian Paisley has said that there are currently two bidders for Wrightbus.
One is from England, and the other from the United States, he said.
The north Antrim MP said that he hoped a deal could be concluded by the end of next week.
The details emerged in a letter sent to councillors ahead of a special meeting of Mid and East Antrim Borough Council on Tuesday night to discuss Wrightbus.
“I have spoken to two bidders, they are in the frame, they are making serious offers about this company,” Mr Paisley told BBC News NI.
He added he did not want to “build up people’s hopes beyond where they need to be”, but that the offers were “serious” and he hoped they would result in the “consummation of a sale”.
Administrators for the firm are briefing councillors.
Mr Paisley also said that a sizeable amount of a £220m government fund to buy buses will be earmarked for a Northern Ireland company.
He said the issue of the ownership of the Wrightbus land is likely to be addressed in any sale.
Currently the land is owned by Jeff Wright separate to his role in Wrightbus and it going into administration.
Mr Paisley added the size of the workforce if the company is rescued will be smaller than the 1,200 who were laid off last week.