Saab’s prospective buyers qualify for EIB loans

TTELA are reporting a breaking story from Sweden, with Swedish Industry Ministry Secretary, Joran Hagglund, confirming that the state has met all prospective owners, and they have not seen anything that would deter the state from providing the promised loan guarantees.
Some Googltrans work from the original report:
Representatives of the government have met the candidates remaining in Saab’s sales process. This has included discussions about state guarantees for loans from the European Investment Bank (EIB).
It is something that a future owner is supposed to be very interested.
– We have seen nothing that says that any of these stakeholders would not be considered for the EIB loan,” says Hagglund.
The Ministry of Industry gave a similar view on the Saab-process around 1-2 weeks ago. But when then Prime Minister Fredrik Reinfeldt at the weekend called Saab’s situation “very fragile and difficult”, it raised questions about whether the government had suddenly changed its view since the Opel affair has become clear, but without Saab as part of the package.
– It is perhaps how the image was conveyed. We have always agreed that the situation is vilnerable” says Hägglund on the Government’s vision, and continues:
– But only to the Saab 2-3 have stakeholders who are serious in itself is more positive than if it had not. Since there still remains some pieces,” he says.
Would the government have preferred a large settlement with Fiat as the new owner?
– Well, we noted that a fully independent company, would not, but it still requires partners. Then, it could perhaps be easier to put in a context where people can share their costs.
Even Jöran Hägglund heard on Monday, GM chief Fritz Henderson said that Saab is not affected by GM’s request for bankruptcy protection. It is the same information as the government earlier.
– Since you are never one hundred percent safe until the court says so. But most suggest that the process may continue.
Jöran Hägglund points out that there are a number of questions that should not be underestimated in terms of sales of Opel, in terms of rights, the supply of engines and components and so on.
– There it is important that all the countries involved continuous information. Some people compare with German and American government, and think that the Swedish government acted passively in this matter.
– In the case of the U.S. government, they started to grant loans around the turn of the year, which eventually forced them to become owners of GM. We did not want to end up in the situation, but that is exactly what would have happened if we left the loan guarantees in February.
– As for the Opel’s precisely what distinguishes itself from Saab. There has always been an owner (GM) who said they want to remain as owners.
This confirms the impression that we’ve received already, that the bidders we are down to now are serious contenders and legitimate candidates (at least in business terms. There are still some ethical queries to resolve).
If Koenigsegg and their connections satisfy the loan requirements and have a good proposition in place then I can see no better option from the parties that we know of so far.
All other things being equal, who would you prefer – K-Segg or Renco?
This is very encouraging news. Thanks to Tompa for the link and Magnus Nordberg for the excellent reportage once again.