Tag Archives: Christopher Johnston

Nygren-Samuelsson Say They Are Still In The Game

Posted on 26. Jan, 2010 by .

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nygren

Photo Credit: E24

Since Merbanco & now Genii Capital Group / Ecclestone are out of the bidding and Spyker continuing final negotiations in Stockholm, former Swedish Minister, Jan Nygren of the Nygren-Samuelsson team, says that his team is still in the bidding game according to E24

This bid was a worst case scenario bid let’s remember, effectively only focusing on the 9-3 lineage, no new 9-5, no 9-4x and therefore only up to an expected 50,000 units per year, and no need for an EIB loan.

Jan Nygren like Christopher Johnston of Merbanco and Lars Carlstrom of Genii group, says that if the Spyker sale goes off without a hitch, he wishes them well.

Apparently, he felt it was important to tell us that although they support the Spyker bid and hope it succeeds, they are still waiting in the wings if need be.

Genii capital has thrown in the towel, but GM appears to continue talks with the Dutch Spyker. But the former S-minister Jan Nygren is still in the game.

– We are ready and happy to resume talks with GM, said Jan Nygren to E24.

His business is not dependent on a loan of 400 million euros from the European Investment Bank, but focuses on producing small volumes of Saab models and has a “sound business”.

What are the financiers behind his team, he still would not reveal.

– It’s a thing between us and GM, said the former manager of the defense group Saab who is also deputy prime minister.

E24: But GM has certainly always had opinions on just what the financiers are among the bidders, should not you be open with it?

– I can say as much as it is Swedish interests and people with knowledge of vehicles, “said Jan Nygren.

E24: So if Spyker would fail, you can be an alternative?

– If Spyker affair goes off without a hitch, we say good luck, otherwise we are absolutely interested, “said Jan Nygren.

The Dutch investor and multi-billionaire Marcel Boekhoorn denied again today that he would be one of the financiers behind the Spykers Saab bid.

In an email to TT says: “Marcel Boekhoorn affirms that he is not involved in the purchase of Spyker Cars Saa

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Saab History Learns That Merbanco Group Was Not Chosen

Posted on 02. Dec, 2009 by .

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Saab History has learned that one of the three speculated bidders for Saab Automobile, the Wyoming based Merbanco Group was unfortunately not chosen.

After recently developing a relationship with Christopher Johnston of Merbanco Group I have learned about his history with Saab, his passion for the car company, his own interests and how his approach would have been very well suited to take on Saab Automobile as a new owner.

While I am deeply disappointed that this route was not chosen or even considered, I have appreciated getting to know him and his honest interests in saving Saab Automobile.

Here’s a piece that Christopher Johnston provided Saab History tonight for us to reflect on:

“As most of you know, we ride with the brand, the fit was good, and were up to the challenges ahead. It is now time for us to depart the field and support the company and its outstanding people.

We are grateful to all of you, fellow Saab enthusiasts and the Saab team for the support you have us. It will never be forgotten. Heartfelt thanks, Ryan and friends for your support.”

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Saab Automobile AB Management & Swedish Government Delegates Arrive In Detroit Prior to GM Board Meeting

Posted on 30. Nov, 2009 by .

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The Saab Automobile management board along with delegates from the Swedish Government will be in Detroit Monday, a day prior to the GM board meeting on Tuesday, December 1st where the fate of Saab will be determined.

It will be at GM’s HQ where Jan-Ã…ke Jonsson and others from Saab Automobile will be giving a presentation on the future of the company.

Here’s the article from Sweden’s The Local

Swedish officials in last ditch Saab rescue plea

A Swedish government representative is due to land shortly in Detroit to provide input to the General Motors (GM) board ahead of a Tuesday meeting where it is expected to decide the fate of Saab Automobile.

State secretary Jöran Hägglund of the Ministry of Enterprise, Energy and Communications (Näringsdepartamentet) is set to meet the GM top brass on Monday in what is viewed as a last ditch effort to convince the US automaker to pick a solution other than shuttering Saab for good.

Hägglund traveled to Detroit on short notice as part of a delegation from both his ministry and the Swedish Ministry of Finance.

When the GM board meets on Tuesday to formulate its decision, it will hold the future of roughly 4,000 residents of Trollhättan in western Sweden in its hands, as well as the fates of an additional 4,000 workers throughout Västra Götaland.

Saab CEO Jan Ã…ke Jonsson criticized the government last week for not doing enough to save Saab, which unions also charged in even more pointed language.

Hägglund’s meeting with the GM leadership is an effort to sort out any remaining questions and give the Detroit bosses insights into the facts following the drawn out and now collapsed process with Koeningsegg.

“Another important mission to also to try to determine what sort of financial muscle the prospective buyers have,” Hägglund told Svergies Televsion (SVT) in a pre-taped segment which broadcast on Sunday night.

Hägglund has previously confirmed that there is interest in taking over Saab from several potential suitors, but he refused to divulge any names.

In the meantime, one name has emerged – that of the American investment group Merbanco.

But the interest remains only if it’s possible to avoid a new, six-month long process, Merbanco CEO Christopher Johnston told the Reuters news agency.

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BAIC, Merbanco & Renco Speculated As Bidders For Saab

Posted on 26. Nov, 2009 by .

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Bloomberg is now reporting that the “usual suspects” we heard about in the beginning of the year, which include BAIC of course as well as the 2nd and 3rd bidders, Merbanco & Renco, are back.

This is all like a time warp back to the bidding process we saw in the early part of the year.

We’ll all learn what will be taking place by Tuesday which will be here soon enough.

Beijing Auto, Merbanco, Renco Said to Make Approaches on Saab

By Serena Saitto, Ola Kinnander and Jeff Green

Nov. 26 (Bloomberg) — Beijing Automotive Industry Holding Co., Merbanco Inc. and Renco Group Inc. have made approaches about General Motors Co.’s Saab unit after the collapse of a sale to Koenigsegg Group, said two people familiar with the situation.

No written proposals have been submitted and any new bids or other options for the Swedish unit will be reviewed by Detroit-based GM’s board at a meeting on Dec. 1, said one of the people, who asked not to be identified because the discussions are confidential.

Koenigsegg said Nov. 24 that it pulled out of talks to acquire Saab, saying it ran out of time to complete the transaction. Beijing Automotive was a partner in the Swedish investor group. While GM directors might opt to keep Saab, as they did with the Opel division this month, GM has a contingency plan that calls for winding down the brand, people familiar with the plan have said.

Beijing Automotive said yesterday that it will “cautiously” reconsider plans to buy a stake in the unprofitable Swedish carmaker. A Beijing Automotive spokesman couldn’t be reached for comment today.

Merbanco is a Wyoming-based investor group. President Christopher Johnston said in an interview today that Merbanco would be willing to help Saab. When asked whether that could include acquiring a majority stake in the carmaker, he said: “That could be one way.”

Renco spokesman John Dillard didn’t return a phone call.

Chris Preuss, a GM spokesman, and Saab’s Eric Geers declined to comment.

Merbanco was among suitors that lost the bidding in June to Koenigsegg, a person familiar with the process said at the time. Renco, owned by billionaire Ira Rennert, had also expressed interest.

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