Tag Archives: Industry Ministry

Saab Automobile Board Meeting Rescheduled For Tomorrow

Posted on 07. Jan, 2010 by .

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As reported this morning, Bloomberg indicates that the Saab Automobile AB management board meeting has been rescheduled for tomorrow to take in additional last minute efforts for other bidders to buy Saab.

The discussion tomorrow will not only include the bidders, but also whether or not to start production this Sunday, January 11th as stated previously.

They have some additional coverage of our “Save Saab” gathering in Detroit, which is again nice to see.

Here is the article below:

Jan. 7 (Bloomberg) — Saab Automobile AB, the Swedish carmaker being wound down by General Motors Co., postponed a board meeting and bidders including Spyker Cars NV are making last-ditch efforts to buy the brand as a sale deadline looms.

The gathering, originally set for today, will take place tomorrow and examine whether or how Saab can restart production Jan. 11 after a four-week break, board member Haakan Danielsson said an interview. Board members may also discuss any possible new bids for Saab, he said.

GM has extended a deadline for Saab bids until today, giving Spyker more time to come up with financing for its offer, people familiar with the matter have said. Genii Capital, a private-equity firm that agreed to buy a majority stake in Renault SA’s Formula One team last month, intends to hand in a cash offer today, according to Lars Carlstroem, the Swedish investor who is working with Genii.
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Koenigsegg Submits Business Plan & Loan Application To The Swedish Government & European Investment Bank.

Posted on 12. Aug, 2009 by .

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The leader of the Koenigsegg Investment team, Augi K. Fabela has met with the Swedish Government today and has submitted the Koenigsegg-Saab Automobile business plan according to Sweden’s Dagens Industri. In addition, the application for the loan to the European Investment Bank has also been submitted today.

Now the ball is in the court of the Swedish Government to accept the business plan as they requested earlier this month and endorse the loan application as a guarantor for the $600 Million dollar European Investment Bank loan.

Once both parties agree on the business plan and the loan application, the Koenigsegg-Saab arrangement will be ready to go by September 30th.

Koenigsegg has met with government

Published 2009-08-11 22:03

Representatives of Koenigsegg Group has today met with the government to convince the business plan for Saab is that the consortium and actually have the money required.

Ministry of Industry would like to officially neither confirm or deny today’s meeting between Secretary of State Jöran Hägglund and representatives of Koenigsegg Group. But a meeting has taken place, the government wanted to clear up the uncertainties surrounding the ownership and financing.

– We had a need to get a grip on what they think and what there is of money behind this, “says a centrally placed source at the Industry Ministry to TT.

The data in the media that one of the owners of Koenigsegg Group should have sold its shares will now be fully investigated. Now the government has a clear idea of who is behind the consortium. The source would, however, not confirm details of the dropoff he would be the American businessman Mark Bishop.

Jöran Hägglund has previously asked for a “credible financing” to the state should put up guarantees for the deal between Koenigsegg Group and Saab-owner GM.

HÃ¥kan Lind, Head of Department, says that the work of investigating the question of possible state guarantee for Saab’s loan application from the European Investment Bank (EIB) of 4.3 billion goes as planned.

– We have the ambition to have all decisions clear to the Bank Board meeting September 22, “says Lind.

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