Tag Archives: TTELA

Swedish Government To Review Bids Throughout Weekend

Posted on 09. Jan, 2010 by .

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Sweden’s TTELA indicates that the Swedish Government’s Jöran Hägglund and his entire Swedish Government cabinet group will be spending all weekend in Detroit going over the bids to buy Saab that came in Thursday night.

He indicates that there are reputable buyers as we know and will discuss which ones have or will receive the okay to obtain the EIB loan guarantees, the critical aspect to the bidding.

All it takes is one to receive the guarantee and then, signify they are the buyer and ensure that they sign the deal and complete the sale ASAP!

Here is the article below loosely translated:

Jöran Hägglund hasn’t given up.

Joran Hagglund has not given up going to Detroit.

Secretary of State Joran Hagglund has not given up hope that Saab can find a new owner.

Related-We ‘re not going to Detroit to talk about how a settlement should go to, “says Hagglund.

On Saturday he goes to the U.S. for a few days to meet GM’s and Ford’s lines and discuss the future of the Swedish automotive industry and the two companies.

Have seen the basis for bids

Hagglund said he has seen preliminary data from the groups that reported bid to buy Saab.

There are many reputable people, “says Hagglund, but added that he will not and at this stage want to comment on whether he believes that the bids are genuine or not.

– We shall see what we can do that, if possible, contribute to positive sales of Saab, Hagglund said before his trip, but added:
[…]

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Saab History Suggests A Saab Enthusiast Convoy To Detroit

Posted on 30. Dec, 2009 by .

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Photo Credit: Saab History

With the Saab clubs in Europe taking the initiative to set up a convoy to Saab Automobile’s headquarters in Sweden, a week after the January 7th deadline, I think us here in the United States and Canada can do something even more effective.

I think it would make much more sense for us Saab owners and enthusiasts in the United States and Canada, to organize a nice convoy to Detroit. This convoy should take place next week, arriving within hours of the GM board meeting. this is the meeting where they will ultimately decide the fate of Saab Automobile’s future.

If we get enough Saab owners and enthusiasts parked outside of the GM Renaissance center in Detroit, perhaps we could really show them how serious we are in wanting Saab Automobile to have a bright future and be sold.

I think this would be the ideal location and timely, given that it would be on the day of the GM board meeting. Let’s get moving on this. Anyone know the time and date of the GM Board meeting next week? Let’s fill this parking lot and show a strong gathering of support for Saab! I think it would be a win-win for everyone involved. The press would of course love it too!

Assuming the weather is cooperative, all you need to do is drive there, park, hang out for a few hours, talk with the press, get some group photographs and show your Saab pride!

It’s up to those attending on the ground, to make the best determination as to exactly where on that day.

The press are already covering this event and it has not even started yet!

Automobile Magazine – Saab Convoy to Detroit to Save the Brand

Autoblog – Saab enthusiasts planning rally at GM HQ?

Jalopnik – Got A Saab? Head To Detroit To Help Save The Brand

USA Today – Saab Owners Organizing Convoy To GM Board Meeting

Motor Trend – Saab Enthusiasts Plan March On Detroit

The Swedish Wire – Saab Enthusiasts Gather In Detroit To Protest

Trollhattan, Sweden’s TTELA – Demonstration för Saab i Detroit

Bil Sport IN Sweden – Demonstration för Saab i Detroit

Goteborg Posten – Saab-entusiaster demonstrerar mot GM

Swedish Radio -Enda sättet är att sälja SAAB with Saab History Interview

Gay Wheels – Saab Enthusiasts Not Giving Up

Stockholm News – Manifestation for Saab planned in Detroit

AOL Autos wants to sponsor our signs! I think we get “SAVE SAAB” on them, what do you think?

Update 1.2.2009 1:50pm EST:

Who: Saab owners and enthusiasts coordinate here and e-mail each other.

What: Saab Enthusiast Convoy To Gather Near GM Rennaissance Center.

When: Meet On Tuesday, January 5th at noon. / Saab Car Gathering is at 1pm nearby.

Where: At the food court at the GM Renn Center. Click this link for more details and directions on the location.

The location where the vehicles will gather at 1pm here :

“There is a public lot at the corner of Atwater and St. Antoine right on the river that is only $3 per day. (Won’t find any cheaper parking near the Ren Cen.) It always has lots of extra capacity so maybe that’s a good choice. People can enter the Ren Cen from that side through the Winter Garden entrance on Atwater and the food court is on that same level.”

Click on the photo to see it larger!

rennmap

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Victor Muller Speaks Speaks To The Press In Trollhättan

Posted on 22. Dec, 2009 by .

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Photo Credit: Bengt Nilsson / TTELA

TTELA & Swedish Radio have recently met up with Victor Muller today at Saab in Trollhattan today.

Check out the brief comments below, and more importantly, listen to him speak about his true interest in Saab by clicking here.

This guy really wants Saab and it certainly sounds like it!

TTELA Meets Up With Victor Muller Of Spyker Cars.

Shortly after 4 o’clock on Tuesday Victor Muller, CEO Spyker cars, met with Saab. At Saab, he met with Saab’s representatives and union representatives throughout the day.

– We have come due dligence (thorough business review), that is where we are in negotiations with GM, “said Victor Muller when TTELA met up with him in the Saab port on Tuesday afternoon.

He calls the party “very cooperative”. Negotiations have been intense, as Spyker-CEO, since Sunday when the new bid was added.

– It will be extreme until 31 December when GM’s deadline expires, as it looks.

Why do you want to buy Saab?

– Because it is a brand icon status. I can see a beautiful and wonderful future for Saab.

What can you say to employees?

– We at Spyker are doing everything we can, I can assure you..

Here’s a piece from the transcript below from Swedish Radio as well.

In an interview with The voice of Saab prospective buyer Spykers CEO Victor Muller and myself secretive about who or who is behind the money in this deal.

– Our business plan is fully funded. One of the sources are the European Investment Bank, but there are many other sources, “said Victor Muller.
[…]

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TTELA Provides Entire GM Press Conference Recap (Long)

Posted on 19. Dec, 2009 by .

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Trollhattan, Sweden’s TTELA provides the entire recap of the GM Press Conference that took place this morning where they indicated that are now planning on winding Saab down.

This is quite long.

Publicerad 18 december 2009 Uppdaterad 19 december 2009

GM:s presskonferens i sin helhet
TROLLHÄTTAN Här är presskonferensen med GM:s vice vd, John Smith, i sin helhet, tyvärr bara på engelska – vi försöker återkomma med en svensk version.

Here is the full length version of the press conference with GM Vice President John Smith compiled by TTELA on GM winding down the Saab brand. Different American, Brittish and Swedish journalists are asking the questions.

In the press release you said issues arose during due diligence. To be clear, that is due diligence that you performed on Spyker or the diligence that Spyker performed on Saab, and what kind of issues arose?

– If you read the press release carefully, what the language says, certain issues arose on both parties which we didn’t believed could be resolved at the time we had available to ourselves. And at this point frankly I’m not going to add very much meat on that set of bones. Everybody worked really hard and not with very much time for a transaction of this type. Everybody appreciate we have been sorting through potential investors for Saab for the better part of this calendar year – after identifying Saab as a brand that we would either sell or wind down back in February as a part of our viability plan. We’ve spent quite a bit of time then and now with one potential investor, Koenigsegg, and got very close, but in the end Koenigsegg discovered some issues they didn’t think they would overcome and elected to withdraw. When I say we didn’t have very much time basically from the middle last month to now to restart, if you will, an investor process in a incredible short period of time, and Spyker was the one candidate we thought there might be a chance to conclude on the due diligence on both sides. Both sides did it with a lot of hard work, lot of support by the way from the Swedish government, and in the end we couldn’t conclude. And at this point I’m not going to get more specific on the issues on either side.

Was there a problem getting a loan from the EIB?

– I would say we were still in discussions as of this morning with the European Investment Bank who were pitching in to the best degrees that we could. We did not as of this morning have that part of the deal done, so it would fair to say that was still an open point.

When was the discussion closed with Spyker?

– We formally closed things this morning, a short time ago, I don’t have the exact time. There were meetings this morning In Stockholm with the Swedish government and representatives from Spyker and General Motors.
[…]

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TTELA Reports: Spyker To Proceed To Next Stage

Posted on 15. Dec, 2009 by .

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According to TTELA, Spyker is to proceed to the next stage in the process to buy Saab Automobile.

General Motors’ process to sell Saab Automobile has taken another step. The European Investment Bank (EIB) and the government have received support to go in depth with one of the stakeholders.

– I know that the bank has given a name to work with and we have also begun to look at the candidate who is the main track, says Joran Hagglund, state secretary at the Economy Ministry, told TT.

For Saab to be able to get the loan from Bank of 400 million, approximately SEK 4.2 billion, the new owner must meet the Bank’s review. Government and SNDO review is to examine whether the state should provide the necessary loan guarantees.

– We will include an economic analysis and see where Saab will enter the business image of stakeholders. For us, the same requirements apply as before – the taxpayers should not suffer,” said Joran Hagglund.

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The Complete Sale Of Saab May Take Until Next Year

Posted on 04. Dec, 2009 by .

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Trollhattan’s TTELA reports that the complete sale of Saab may take until next year having learned this news from Saab Automobile’s own, Eric Geers.

Saab business may take until next year

GM gave Saab a respite of 30 days to find a new owner. This does not mean the deal should be completely finished before the year end. Until then, however, all suitors for Saab will be analyzed and rated. Except one, who may proceed to final stage.

The response of GM’s decision on Tuesday from Eric Geers, Communications Director at Saab in Trollhattan.

– Absolutely. No one expects a completely closed the sale before the end of the year. But we have come so far that such an agreement or an MOU (Memorandum of Understanding, a letter of intent) will be soon “said Geers.

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The GM Board Meeting Continues Throughout Tuesday

Posted on 01. Dec, 2009 by .

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gmboardmtg1.jpg

Photo Credit: Saab History

Trollhattan’s TTELA news organization reports that the GM Board meeting will continue throughout Tuesday.

At some point later today there may be a statement issued by GM for the press according to their news relations officer Tom Wilkinson, but as of now, there has been nothing released. In addition, it is important to emphasize that GM wishes not to hold a press conference for questions & answers, only a press release or statement.

The delegation that is at the meeting, from Saab and the Swedish government are expected to be leaving Detroit Wednesday afternoon returning to Sweden later that night.

Here’s the piece below by TTELA.

Saab’s delegation leaves on Wednesday

Trollhättan, Sweden The Swedish delegation from the Economy Ministry and Finance Ministry, headed by State Secretary Joran Hagglund, is scheduled to return home from Detroit on Wednesday night.

It says press secretary at the Ministry of Industry, HÃ¥kan Lind.

This means that the Swedish government representatives have a full day in which to further meetings after that the GM board will present its final decisions.

How long Saab Director Jan Ã…ke Jonsson stays in Detroit depends on the situation.

– What time he goes home depends on the information coming. We keep some flexibility, “says Ms Gustav on Saab’s communications department.

The board of GM meet on Tuesday morning local time, late morning Swedish time, for a meeting expected to last all day.

Paul Akerlund, chairman of the IF Metall Club at Saab Automobile, describing the mood inside the Saab factory for the decision:

– Of course it is a bit tense. But I certainly think that there is relatively good, you can surely remember that just a week ago we were more or less excluded.
He perceives the noises from Detroit as positive.

– Yes, and you can understand so we have a bit over-hand information. And I think that GM’s willingness to try to find a new owner this is truly honest. Unfortunately, time is short but there are discussions and there are very positive.

According Akerlund are a few pieces of stakeholders that GM is in talks with.

Is it still possible that GM itself chooses to retain Saab?
– Excluded is not well but I personally would not believe it, but their traces on the sale is settled.

Akerlund believe in no news from GM until late in the evening or night.
– And then I guess that it has declared that it will continue the sales process.

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TTELA Reports EU Closer To Saab Decision

Posted on 23. Nov, 2009 by .

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Trollhattan, Sweden’s TTELA reports that the EU Commission is getting closer to completing the Saab sale to the Koenigsegg Group.

Here is their report below translated by google.

EU closer Saab Decision

TROLLHÄTTAN A decision by the EU on Saab’s loan application will be closer, since the Ministry of Industry of the week provided the Commission with additional information.

Since the documents are submitted in both Wednesday as Thursday, the commission may now be obtained throughout the support you need to take a decision in the Saab case.

– We hope so, but we’ll see. We have done everything we can to expedite this matter, “says Bengt Wenner Stein, scientific councils of the Economy Ministry.

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