Augie Fabela meeting Jöran Hägglund today
August 11, 2009 in News
Whilst Holden can get $200million from the Aussie government with no strings attached, it’s a bit harder to get government support if you’re in Sweden.
News from e24 indicates that Koenigsegg Group Chairman, Augie Fabela, is due to meet with the Swedish government today.
The Koenigsegg Group has been under even more pressure than normal in recent days when it was disclosed by Hägglund that one shareholder in the group was leaving. Apparently it’s Mark Bishop, and he’s a little antsy about the spotlight that’s been shone on him since news of Koenigsegg’s selection was made public.
It’s a critical time in negotiations as Saab will need the government loan guarantees and the government need some assurance that the owners are financially strong and stable (and when someone up and leaves at crunch time, it doesn’t look stable).
The Googletrans (unedited):
Sensitive Saab meeting with the government today
Today should Koenigseggs President aUgi K Fabel convince government representative Jöran Hägglund that the business plan for the Saab and agree that the consortium has the financial muscle needed. Jöran Hägglund ask for a “credible” financing.
Today, continuing the tough negotiations between, among other government representative Jöran Hägglund and Koenigsegg consortium, with President aUgi K Fabel at the forefront. It provide a central source of E24.
In the pot, the state guarantees Koenigsegg Group and Saab need for the European Investment Bank, EIB, will grant a loan of 4.3 billion. According Jöran Hägglund includes the loan as a central part in Koenigseggs business plan for Saab. Without EIB loan will probably have no business.
But Jöran Hägglund still lacks a “credible” financing. For E24, he said that the main thing is questionable how long-term potential buyers are able to be.
- The automotive industry is extremely capital. 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 have it, he declared for the E24 on Friday.
The consortium is also working continuously with the business to be presented to the EIB and Riksgälden / government.
The business plans by the government with Jöran Hägglund the lead and Riksgälden have seen so far have not convinced.
Today is also likely Koenigsegg Groups ownership be clarified.
State Jöran Hägglund managed to bring a lot of excitement last week when he announced that one of the persons behind bidder Koeningsegg Group is about to withdraw.
According to DI, it should focus on North American Mark Bishop who already have sold their 22 per cent of the Koenigsegg Group to a publicly unknown investors.
Jöran Hagglund said last week that the government, not even himself knew for sure how ownership constellation looks in the current situation.
- It is a matter that we ourselves may be a confirmed picture of how it actually looks in the owner constellation, and we will be clear shortly. We will have updates on the situation.
Saab Automobile wanted in connection with Jöran Hägglunds move not confirm that a person from a prospective buyer Koenigsegg Group was about to withdraw.
- We have a specific background, but as I said, for us it is important to shop in the port. Exactly how the final ownership structure will look like, we must wait, “says Eric Geer, Director of Saab Automobile, the E24 on Tuesday.
- We are doing a business with a very good group. Koenigsegg consortium. You can be confident that they are strong and ambitious.
But not even the government seems convinced that they are sufficiently financially strong?
- It may take you by the government. But the important thing is that we end the affair and we will do in the third quarter, “said Eric Geer.