Tag Archives: financier

Spyker Cars Is Said To Be Favorite Amongst Bidders

Posted on 11. Dec, 2009 by .


Photo Credit: Spyker Cars

According to TTELA, Spyker is said to be the favorite candidate out of the parties interested in buying Saab Automobile.

Here’s the article below, loosely translated.

Spyker said to be favorite

TROLLHÄTTAN – Updated 18:09 – Spyker Cars pulls up in pole position when General Motors is now close to deciding for whom to negotiate with the end to buy Saab Automobile, said a source told news agency TT.

According to the stakeholders that GM will be under way to choose an operator who has experience in automobile manufacturing, but on a smaller scale. It should not be a new name, but a company that has omskrivits for their interest.
The data suggest that the Spyker Cars is GM’s favorite.

The company reported discussing buying Saab in its entirety. The plans are to pursue a full-scale car production in both design and development and manufacturing in Sweden.

After GM’s board last week gave Saab a deadline to the end to find a potential buyer walked Spyker Cars spokesperson out and confirmed that it held talks with GM.

The Dutch company has several similarities with the Koenigsegg Group, who surprisingly dropped out of the store for just over two weeks ago.
Like the Koenigsegg is a small loss of weight sports car manufacturer. Spyker produces around 50 super-luxury sports cars per year. Over the past five years, the listed company has gone back every year. Last year, landed the loss of 23.8 million euros, equivalent to 250 million.

Spyker is behind the Russian financier Vladimir Antonov – which is a major shareholder in a Russian and a Lithuanian bank. There are also Arab interests through Mubadala, an investment company from Abu Dhabi, which saved the company away for bankruptcy two years ago.
Spyker Cars has today 135 employees at its facility in Zeewolde in the Netherlands. But in November the company announced that production at the end of the year should be transferred to the subcontractor CPP in Coventry in the UK cost-cutting.

From Spyker Cars is one with scant comment. Mike Stainton, the public relations company PFPR Communications, which handles media relations, neither confirm nor deny if Spyker entered deeper into negotiations with GM.

– I can not give any information about how the negotiations go, “he says.

But he insists that Spyker is still interested in buying the Saab Automobile.

– The statement from last week in which Spyker Cars confirmed to be agreed with the owner Convers Group has expressed interest in Saab, has not changed, “says Mike Stainton.

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Swedish Government Needs An Updated Business Plan From Koenigsegg Group That Shows Long-Term Financial Sustainability

Posted on 07. Aug, 2009 by .



The Swedish Government has been recently quoted in E24 as stating that the Koenigsegg group that plan on taking over Saab, still require a sustainable business plan. Apparently the plan presented does not provide the levels of sustainability they require not in terms of the environment, but in terms of long term finances.

In reading the piece below, it appears that the Koenigsegg group has yet to be very forthcoming in how they would be able to financially support their takeover of Saab.

It looks like Saab has another two months from the previous report to redo their plan and resubmit so that they can obtain the European Investment Bank loan by September 30th?

For the government should be willing to provide loan guarantees in connection with a loan from the European Investment Bank to Saab, the Koenigsegg Group present a sustainable business plan.

To date, however, a sustainable, such is not presented, says State Secretary Jöran Hägglund.

– We continually look at different plans. The work is indeed continued intensively to see what more can be done in the plans. The (Koenigsegg Group) must come to us and describe how they work, and then negotiate on the state guarantees the Riksgälden.

When it became clear that the bidder on the Saab was Koenigsegg Group Maud Olofsson said that she did not know if they had enough financial muscle to implement the deal. Do you know that now?

– We can ‘t say that we have a complete picture of it. They may well have the business plans they want, but there must be a credible financing. And we do not have a complete picture of their economic muscles.

In short, it sounds like you have a very poor picture of the potential buyers’ access to capital?

– We are given the government mission to discuss conditions for the state guarantee and includes to have full collateral.

And where will their financial muscle in?

– Yes, for example. And so it is primarily a matter for the group. When the group have something to present, they will return to the government and report it.

Shall be concluded that they had not yet managed to show that they have adequate funding?

– It gives you on. When there is something to come back with, the group will provide it.

A loan from the EIB appears to be a prerequisite for the deal to be in?

– It is true that the business plans as we have seen based on that part of the financing of new investments based on loans from the EIB.

But EIB loan will of course do not go to the regular operation. It will go to development of more environmentally friendly solutions. Most of the funding must come from somewhere else?

-That is correct. And it has the implication, in my opinion.

Have Koenigsegg Group said how much capital they had intended to put themselves in the Saab Automobile?

– There is still much confusion about how much they are willing to inject themselves. But we have received a statement.

How much is it about?

– I will not say. One thing is how much they are willing to defer to the beginning. But on Monday on a six-month notice that the business plan do not agree, how is it? That is where I think it would be good for a further description of their economic opportunities.

– The automotive industry is extremely risky. And we – and the Saab, I think – are anxious owners to have long-term opportunity to get involved. And it is important to ensure that they are likely to succeed.

You do not seem convinced of that?

– Well, we will have updates on the situation.

But so far?

– What has been presented so far has not made us very confident.

Where did you find out that it was a financier who wanted to leave?

– I have no comment on. It is, of course that us that need a confirmed picture of how it actually looks in the owner group, and we will be clear shortly.

Could it be about more than a departure?

– I will not comment further. We will have a complete statement shortly on how it looks. When it is, I can not answer, but time goes quickly.

If two weeks is the reorganization period, and yet there is no complete business plan. The potential buyers know nothing about the EIB loan and the government has not yet taken a position on any loan guarantees, which is essential for a business to be off.

– We and the Bank have deemed that the potential buyers in the best case can be notified of an EIB loan until the end of September. And we have been clear., “Says Hagglund.

– Negotiation of any loan guarantees, and negotiations between the Swedish State and the EU Commission concerning the conditions of the loan guarantees – all that would be matched so that it would be ready in the best case at the end of September. EU Commission must decide that there is an unauthorized state.

As it looks now, it must well be an extension of the reconstruction period?

– It depends more on whether the Saab as a company is financially viable or not – regardless of who owns the company. Now Saab has succeeded in cutting of the debts. I think – without having seen all the details – that Saab could go out of the reconstruction but that ownership is yet to be clear.

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BÃ¥rd Eker of Norway, A Man With A Plan For Saab Automobile’s Turnaround Through Koenigsegg

Posted on 18. Jun, 2009 by .


BÃ¥rd Eker, the Norwegian financier of Koenigsegg with his Eker Group, has recently interviewed with Sweden’s SVT on camera.

Here is a rough translated summary of this interview, again if you can provide a translation of this dialogue with SVT, we would greatly appreciate it for all of us that aren’t 100% fluent in Swedish.

This is a very positive and motivational dialogue we’ve all been waiting for, he really gets it as does his entire team at the Eker Group and Koenigsegg Automotive AB.

The Norwegian financier BÃ¥rd Eker says that the purchase of SAAB is a “boys dream”.

-We ‘ve all, had a dream that we dare not talk about and we are lucky and have the wind in its sails now.

He is reticent about the negotiating technical details.

-GM has put up a lot of money and so much money we are not supposed to use it and think we do not need to either.

He talks about the environment rather than on the funding, saying that if they get SAAB, it will be an environmental management standard.

-Everyone must think about the environment and car production must be in the forefront.

What role he will have in the future is not yet clear.

-You have to think again and bring up the old spirit SAAB had and combine it with SAAB’s culture and create products that people want. It is a very exciting challenge, “says BÃ¥rd Eker to SVT

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Saab Automobile Down To Two Possible Buyers?

Posted on 03. Jun, 2009 by .


Saab Automobile AB’s Managing Director, Jan-Ake Jonsson indicates that the company is now down to two possible buyers in an interview conducted with Dagens Industri via reuters.

Here’s hoping that one of those possible buyers at this time is Koenigsegg, the other, who really knows at this point as they were apparently one that was part of the original 27 bidders.

It’s really getting down to the wire, and hopefully it will be disclosed shortly. We must continue to respect the process, it’s in our interest, but it’s still tough to continue to wait.

While waiting is one thing, the articles that continue to include “loss making unit” are also starting to annoy me. I hope that people begin to change their tone and give Saab Automobile a break, it was GM that caused this trouble for them, not themselves. Here’s hoping that when their new buyer comes, they will be more optimistic and positive.

STOCKHOLM (Reuters) – General Motors Corp’ Saab Automobile unit has narrowed talks with potential buyers for the loss-making Swedish brand to two, Saab’s top executive was quoted as saying in a Swedish business daily on Tuesday.

“Now we are negotiating with just two parties,” Saab’s chief executive, Jan-Ake Jonsson, said in Dagens Industri.

Jonsson said final negotiations with one of those two potential suitors could start this week.

“This can go fast now and should absolutely be wrapped up in a maximum of two weeks,” he said in the report, adding a letter of intent with a “serious buyer” could be ready before mid-June.

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Two Options For GM Powertrain Says Kjell ac Bergström

Posted on 22. Apr, 2009 by .


Two Options For GM Powertrain; Stand On Own Feet, Or Integrate With Saab Automobile.

Kjell ac Bergström, CEO of GM Powertain Sweden, whom Saab History interviewed back in January of 2008 at the North American International Auto Show in Detroit says that there are two options for GM Powertain when it comes to separating from General Motors.

According to TTELA, Kjell ac Bergström who sits on the Saab Automobile AB Management board, is extremely optimistic about Saab Automobile and GM Powertrain Sweden, which from what I understand, is a separate company. He wants to know if it’s the right thing for GM Powertrain to continue to stand on its own feet, or integrate with Saab Automobile. According to his interview below, it will have to be determined by the end of this year.

Kjell ac Bergström is a very knowledgeable and open minded person as I have found after interviewing him and listening to one of his BioPower seminars back in 2007 during the Saab Festival. I trust his decision to postpone his retirement in order to ensure the success of GM Powertrain and Saab Automobile AB’s needs is a good one.

Here is the piece from TTELA:

Two routes for Powertrain CEO Kjell ac Bergström favor of separation from GM

Trollhättan Crisis of GM have had mild effects on the GM Powertrain Sweden. The company, which has 380 employees in Trollhättan, are faced with two possible options when Saab is broken off from GM.

Kjell ac Bergström, CEO GM Powertrain Sweden, is extremely optimistic about the future, both for own company and for Saab.

Provides GM with engines and gearboxes, but operates as a separate company.

Has around 50 000 employees worldwide, spread over 20 development centers and 60-century factories. In Trollhättan work currently 380 people on Powertrain, the company GM Powertrain Sweden.

Development of the manual gearbox is a development center by specialized areas.

– Should we still stand on its own feet, or fully integrated in the Saab? We know this when the end of the year, “says Kjell ac Bergström, CEO GM Powertrain Sweden.

For one thing is clear. Kjell ac Bergström deleted cold from Saab, a continued life with a new owner.

– It makes me not to lie SLEEPLESS night, so to speak. We look very positively on this.

Do you prefer the new owner is a car manufacturer or a financier?

– The advantage of an automotive group is that you get access to their technology, but with a financier, we on the other hand, more freedom to talk with several players on the cooperation agreement.

Resulting reconstruction

GM Powertrain Sweden is legally a separate company and are therefore not included in the Saab’s reorganization. But you still participate in the discussions because the company in one way or another will be part of the future of Saab.

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