Tag Archives: car manufacturer

Genii Capital Group & Bernie Ecclestone Bid On Saab

Posted on 07. Jan, 2010 by .

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Genii Capital Group’s press release just received via e-mail to Saab History as we’ve heard about earlier.

What’s interesting is that this press release does not tell us that they’ve been behind the program for a year here as previously reported, nor does it tell us who the Swedish Entrepreneur is behind the scenes.

Genii Capital Group & Bernie Ecclestone Bid On Saab

Luxembourg, January 7, 2010

Genii Capital announced today that its interest in making an offer for the acquisition of a majority stake in Saab SAS in a partnership with Mr. Bernard Ecclestone.

Genii Capital – which has been brought into the bidding process at a late stage by advisors close to the deal – has decided that given an adequate and short timeframe for finalizing its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company.

The investment group which has diverse investments and a strong knowledge of the automotive industry believes that it can add value to the car manufacturer by working on synergies with some of its portfolio companies in the areas of energy efficient engines, OEM components and on-board IT and media technologies – including pay per listen/pay per use systems.

Genii Capital believes that the automotive industry will see – as expected – strong developments in energy efficiency, safety systems but also in the area of on board entertainment systems including technologies that enable use on demand systems as well as innovative communications platforms such as VOIP and GPS location based services. All of these areas being at the core of Genii Capital investment focus.

The group believes that SAAB has a tremendous brand value in a number of key automotive markets as well as an innovative image allowing it to be at the forefront of the car companies that will be first to market with some of the above mentioned technologies.

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About Genii Capital

Genii Capital is a private investment firm that places common sense and business sense at the heart of the investment decision-making process while targeting solid performance. Genii Capital’s investment philosophy is to create value by investing in ideas, brands and projects that are innovative and often disruptive to their business environment. Active in North America, Europe and Asia, Genii Capital’s core investment target areas include brand management, emerging technologies (including public health, energy and environmental technologies), hospitality, entertainment and the automotive industry, including: Renault F1 Team; MOV’IT – a highly specialized high performance brake systems design and manufacturing company; and MCE-5 – a variable compression ratio engine technology.

For more details, please visit http://www.genii-capital.com/

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Saab & Spyker Meet With Swedish Government Today

Posted on 16. Dec, 2009 by .

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Photo Credit: Saab History

Goteborg, Sweden’s post indicates that Spyker & Saab Automobile are in a meeting with the Swedish Government today.

The people in the meeting are indicated to be Victor Muller of Spyker, Jan-Ake Jonsson of Saab Automobile and Joran Hagglund of the Swedish Government.

Here is the article loosely translated:

Swedish government in flash meeting with Spyker

General Motors has confirmed that the Dutch Spyker is the only remaining bidder for Saab. In short, the Swedish government meet with representatives of the Dutch sports car manufacturer.

– We are aware of the schedule last December, so it’s clear that we will do everything we can to really make sure that we, as negotiation, is the date, “said Secretary of State Joran Hagglund to Swedish Radio.

On Tuesday affirmed General Motors chief executive Ed Whitacre, the two options for the Saab. Either Dutch sports car manufacturer Spyker, who is said to be the only remaining bidder, over or so Saab is down.

“Unlikely”

Spykers CEO Victor Muller’s statement to the news agency, Dow Jones Newswire was more modest.

– I can not confirm that we are the only potential buyer of the Saab, but I think it is unlikely that there are other buyers left, “said Muller.

The Swedish government, which is well aware of the rough time frame, will shortly meet with representatives of Spyker. The government says it does not feel any pressure from General Motors.

– We have good cooperation with GM. We have been clear to them also about what kind of requirements we have. We want an owner of Saab, which is long and has a financial strength, “said Joran Hagglund

The government’s focus is now exploring whether Spyker has the financial resources needed to take over Saab.

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Victor R. Muller, CEO Of Spyker Cars Interviewed On Video

Posted on 09. Dec, 2009 by .

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Victor R. Muller, CEO of Spyker Cars has been recently interviewed exclusively by the auto channel about their interest in Saab Automobile..

Here are a few pieces from their editorial about the interview they had with Mr. Muller.

Muller said that he was pleasantly surprised to get the GM call and honored that GM choose Spyker to try and make a deal to save Saab. “But the time span is very short,” says Muller, “We will have to come to terms, before the end of this month.”

Muller is an admirer of the Swedish brand and personally would be really sad, if it would not survice. “It is a good company, with good and honest people, and most important the new 9-5 is a gorgeous car.”

He says he has no information on any new model, except for what was published in the media. Upon an earlier question of a TV-host, if he would have been interested if the car manufacturer was an Italian or French company, his answer was a quick: “Most probably not. We are northern Europeans and we have the same characters, life styles and feelings. There definitely is a match between the Dutch and Scandinavian people.”

Upon my question if he is talking to the Swedish government, he said that would be eminent. But the Swedes have already announced that they will not bail out Saab with tax payer money. “That is something we do not need,” Muller says, “But of course there are issues that we will have to address together.”

Let’s wait see if a Flying Dutchman will be given a chance by the General to succeed in saving a Viking

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Spyker Cars Visits Saab Headquarters In Sweden

Posted on 09. Dec, 2009 by .

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Photo Credit: Sebastian LaMotte / TTELA

Spyker Cars have been noticed visiting Saab Automobile’s headquarters in Trollhattan Sweden yesterday, according to TTELA.

It looks like the group from Spyker were getting a tour of the facilities while meeting with Saab Automobile leadership including Jörgen Nylén who drove them in a Saab 9-3x

I am really hoping that Spyker cars can seal the deal and fast.

Spyker cars visited Saab

TROLLHÄTTAN Here is picture proof that the Dutch Spyker Cars is one of the stakeholders who are still in the picture to buy Saab. Yesterday, the company was on a visit to Trollhattan to take a closer look at Saab.

It has been speculated frequently in recent days about the stakeholders who is still in discussions to buy Saab, and which ones have fallen away.

Koenigsegg Group’s defection opened for new entrants. Such is the Dutch sports car manufacturer Spyker Cars, which in early December came in as a new hot candidate to take over Saab.

As TTELA said last week, Spyker has confirmed on its website that its major shareholder Convers Group in the back, negotiating with GM to buy Saab.

And Spyker Cars is demonstrably still under discussion. For last Tuesday, while the Enterprise and Energy Maud Olofsson (C) and Minister for Employment, Sven Otto Littorin (M) held a press conference in City Hall Trollhättan, were representatives from Spyker Cars arrive at the Saab Car Museum in conjunction with representatives from Saab’s leadership.

One of them was Hans Go, Controller and Board of Spyker, who stepped out of a car driven by Jörgen Nylen. Probably got Spyker Cars is the same review of Saab as a dozen other stakeholders, including the Koenigsegg Group, received last spring.

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Swedish Government Confirms Speculated Saab Bidders

Posted on 30. Nov, 2009 by .

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The Swedish Government following GM, has now officially confirmed the speculated Saab bidders, but has not indicated exactly who they are, if different from speculated bidders BAIC, Merbanco & Renco, according to Stockholm News.

Jöran Hägglund, a Swedish Government official who will be in Detroit on Monday, has indicated there are buyers.

Please read the rest of the details below:

Government confirms more potential SAAB buyers

The rumors about other potential owners to the Swedish car manufacturer SAAB is now confirmed also by the government.

Undersecretary Jöran Hägglund confirmed this today but at the same time, he did not want to sound too hopefull. Hägglund will now go to Detroit for intense negotiations with GM before their board meeting on Tuesday. The negotiations with the other potential buyers take place in parallel to this.

– We have contact with several stakeholders, partly we describe the instrument we have, but also to see what they have to offer and how their plans are for SAAB, Hägglund says to Swedish Public radio channel SR.

To the question from SR of whether we can still have hope for SAAB, Hägglund said:

– I have repeated that the whole time. Since they say at GM that they have no given up, I think this is what should guide us here also.

Undersecretary Hägglund does not want to give any details on which stakeholders he refers to, but according to SR the investment group Merbanco is still interested.

Already tomorrow, Hägglund will meet several important persons in GM in Detroit which he values very much before the board meeting on Tuesday.

– For us this is important. We have had running and intense contacts with GM for a long time now. But is is crucial for us to clear out all the facts before their board meeting. There must be no vagueness about what economic securities we can offer. It is also important for us to have a chance to speak our mind to them, sayd Mr. Hägglund to SR.

(note that the quotes are translated from Swedish and not exact)

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European Investment Bank Says Loan Still Available For Saab Automobile

Posted on 26. Nov, 2009 by .

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Joe Oliver, at Saab Automobile has indicated that the European Investment Bank say that the loan still applies for Saab should a new owner come in even though the Koenigsegg Group terminated their agreement to purchase Saab. as referenced on realtid.se

This is positive news especially with a company that may or may not even need extra money. A good incentive with most of the application legwork already done can only be a positive at this time and nice to know the loan was not unique to the Koenigsegg Group.

EIB’s decision to loan to Saab of 400 million still applies, says EIB Eva Srejber to Realtid.se. Koenigsegg-defection alters nothing – but a new analysis should be done.

Eva Srejber, vice president of the European Investment Bank and former relay Riksbank (99-07).

EIB loan agreed in late October, and is addressed to Saab and not to the Koenigsegg Group, explains Eva Srejber. Thus, it freezes not because of Koenigsegg Group on Tuesday announced the defection.

– The ownership change is not unusual for us, when we make such an analysis of the new owners, “says Eva Srejber, which since July 2007 is one of nine members of the European Investment Bank’s management team, and as such responsible for the Bank’s financing activities in Sweden.

– It was a loan to Saab, and the analysis was that Koenigsegg Group would enter the new owner.

But that now is not so alters not loan: a condition that the sports car manufacturer Saab will take is not in the loan agreement between the Bank and Saab Automotive AB.

Will GM be able to count on the Bank-million?

– It depends, I can not say about the future ownership of Saab. But we will do a new analysis of the future ownership picture, when it clears.

Can conditions be changed?

– Yes, in light of the strength of the future ownership picture.

For all EIB loans, there should be a “non-objection from the European Commission and the Government of the country the investment is made. In addition occurs. if there is a state guarantee, a state aid investigation, which ran in the European Commission after the Bank took its lending decisions. In the process, however, was not involved, the EIB, but it is a process between the Commission and the Government:

– Non-opposition to the loan per se is finished, because it is part of the treatment before it is entered into our board, “says Eva Srejber.

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Saab Dealerships In Canada To Continue

Posted on 18. Nov, 2009 by .

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Saab History has covered the status of Saab dealerships in Canada earlier this fall, but now there seems to be a good resolution in place.

Evidently, according to the global and mail, the dealerships will continue by Saab Cars North America working directly with distributor, International Fleet Sales, Inc. of California to make it all happen.

While this is positive news, how is it that so many of these dealerships have been told that they are to close, and now many months later, they are asked to stay?

Saab’s history in Canada started in 1975 with a distributor, so continuing this plan will not be any different than it was since it began.

Here’s the story below.

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Saab, one of four brands being jettisoned or sold by General Motors Co., will continue in Canada under new ownership and a smaller dealer network, Canadian dealers say.
[…]

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SVT To Show Koenigsegg Documentary Nov 1-7

Posted on 02. Nov, 2009 by .

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Sweden’s TV (SVT), has once again produced a documentary following their documentary of Saab’s former owners, before GM, the Wallenberg’s, are now showing a documentary featuring Saab’s new owners, the Koenigsegg Family.

If you are in Sweden, you can watch it at home on your television this Sunday. If you are anywhere else in the world, I thought that you would be able to watch it on SVT’s 24 online television channel, however SVT has limited it to Sweden only, which is most unfortunate.

However, a Swede has conveniently posted it on Youtube, in 6 separate parts for everyone in the world to enjoy!

Here they are (Part 1, Part 2, Part 3, Part 4, Part 5, Part 6)
[…]

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