Saabs United - 9th May, 2009
Several sources have indicated to me that one of the US based bidders is a private investment company based in New York called The Renco Group, which is the parent company of AM General.
Reuters - 28th May, 2009
STOCKHOLM (Reuters) - Swedish luxury automaker Koenigsegg is among the remaining suitors of General Motors' loss-making unit Saab Automobile, a Swedish business daily reported on Thursday, citing undisclosed sources.The other front-runner for Saab, which was granted protection from creditors earlier this year, is U.S. financier Ira Rennert and his Renco Group, Dagens Industri reported on its website.
Will people now stop talking about Ripplewood?
Not likely, but I think this saves me from the threat of the nudie run, doesn't it?
Some may have been watching the Swedish news services enough to know that they've been following SU's commentary in the last few weeks, so in a way, some might say that Reuters may be quoting Dagens, who on odd occasions on this subject may have quoted me. So the logical next question is whether or not this is anything more than just me talking again through several filters?
Well, one would assume that a big service like Dagens or Reuters would do some further digging before committing to print. Me? I'm just a blogger with some excellent connections.
My gut instinct tells me we are still some way away from a clear resolution as to who will be Saab's new owner, and I don't think it will be Renco. Things will be very complicated indeed.
BTW, I've booked the TV crew for you nude streak in Sweden. Will 2000 BluRays and 6000 DVD copies be enough? Better hope it's the summer months....
You are more than "just a blogger" :-)
The newspaper also reported that Koenigsegg, which is part-owned by the Koenigsegg family, was lining up financing for the purchase among a group of "very wealthy people."
Battle of the millionaires!!! I want the Scandinavian side to win. Saab back to its roots!
What exactly does Rennert want to do with Saab? Turn it into a natural resources company?
Or use it as a research bed for autos that use more of his resources. I'm sure many of his resources could be used in battery/fuel cell production. Also magnesium is 'the next big thing' in auto production. SAAB would be a perfect 'vehicle' with it's strong R&D credentials to produce highly innovative alternative fuel technologies with ultra light weight componentry. Pointing the way for cars of the future through a premium brand will make it easier to on-sell or license technologies to other auto companies and industries.
Does that sound silly?
But does it half to be all or nothing? What about a 50/50 deal between Fiat and Koneigsegg?
Go Renco!
How do you really feel?
I'm not sure you've been clear on this subject.
(nice to see you have a sense of humor after all!) :-)
(thanks - please don't tell anyone)
Glass slipper anyone?
Just ogt the June edition of CAR magazine and its got a full feature on the Nurburgring.
Koenigsegg have two of the top 20 fastest times at the 'ring. Numbers 10 & 11 to be exact. You don't do that without some serious engineering behind you. The rest of list is like a roll-call of supercars: Porsche/Ferrari/Maserati/Nissan GTR/Lamborghini/Zonda/McLaren etc.....
SAAB helped with the development of the CCR & CCX remember. Perhaps they can help again?
Run it through Google Trans.
"So the logical next question is whether or not this is anything more than just me talking again through several filters?"
It is.
If K-segg is still in the game they must be backed quite well. As they have connections to Middle East money could come from there, too.
And making it to the final also shows that K-segg has done a good job in the negotiations so far. Combined with the knowledge from Saab management it could be a winning team.
Opposed to Swade I personally think K-segg will make it. Noone is in the final only for being a local but with everything else as good as the competitors that might be the little bit that makes the difference. At least for Saab and the Swedish government.
Renco being wealthy does not mean they are willing to put much money on the table. I think they are going for a cheap shot.
But sorry, no nude run if I'm wrong. For if Renco gets Saab it's bad enough.
Jobs stay in Sweden and research grants would be easy to obtain working closely with Swedish and Norwegian universitys.
From the Koenigsegg website: "Christians inventive mind and unending enthusiasm is a vital part of all aspects of his four-wheeled namesakes. "
And that´s the spirit of Saab too.
I say, with the right kind of money this one IS a match made in heaven. Sorry Sergio M.. But Fiat-Opel is not.
Cheers/Tom
Woohooooo!!!!!!!!!!!
My two thumbs up gto K-segg.
Paul Åkerlund to Ttela:
I assume that we will go to 2-shift when the convertible assemble move to Trollhättan and when production of the NG9-5 start. I Know when this will happen, but I do not want to give a date if it were to change, say Paul Åkerlund.
Hey guys and gal!
The NG9-5 has a date for production. And reading the article this would be in august... !!!!!!!!!!!!
Cheers!
http://ttela.se/ekonomi/saab/1.480946
Wohoooooooo!!!!!!!!!!!!!!!
The Convertible back to Sweden should help to fill capacity.... does anyone know why this production was sent to Austria in the first place?
Very ggos news about the old SAAN IT system still working fine.....
Most likely assembly is so much different compared to normal cars, slower and different phases(actually open tops were made in Finland, before Austria).
Maybe the availability of XWD on most 9-3s, especially the Combis, is giving the sales boost to rehire? My Spring edition of Saab Discoveries came in the mail yesterday (late spring?). 9-3 Convertible Special Edition in Bright Champagne is the feature.
If it's not Made in China, I am going to buy the featured Saab golf umbrella with carbon fibre shaft and one transparent viewing panel - what an excellent design idea for an umbrella! The Saab USB flash drive is also very cool.
Maybe next week will be the week we end the suspense?