Vladimir Antonov ready to invest in Saab

Earlier today, the Swedish press opened the day with some sensational headlines and stories about Saab failing, even Saab going bankrupt within 5 days of the EIB pulling a specific trigger on their loan to Saab.

All of this was based on words from Vladimir Antonov, the Russian investor with close links to Spyker Cars and Victor Muller.

I addressed these first articles (specifically, the one from DI.se) earlier today. The primary response was to ask Mr Antonov a simple question – Why?

It seems we have some fuller text coming out now, via E24 and SvD. The context seems to have become a bit clearer, too. I don’t know if he’s given these quotes as a follow up, in a bid to calm the waves caused earlier today, or if DI.se and DN.se just chose to ignore the context. Either way, this is a little more reassuring.

It should be mentioned, too, that many people in comments chose to read the situation this way. It’s reassuring to see.

——

From SvD:

Russian financier Vladimir Antonov think that Saab Automobile’s sales target this year is “too optimistic”, and that Saab may need an extra buffer.

– If the goal is not reached, it would be nice for the Saab at 50-70 million euros (about 450-600 million) as an extra pillow to lean on. The money we are prepared to bear if we are permitted by the Bank, “he said.

No risk of the Saab shed their miljardlån from the EIB, he believes that there is now.

– The EIB has a great security and great interest for Saab loan. Why should they withdraw it? At the moment everything works well, “said Vladimir Antonov said.

However, he wants to put pressure on the Bank to allow him as a financier, which he argues that the bank does not do. His lawyers have not even had to arrange a meeting.

– Towards the end of the year there is a risk that Saab needs a financial partner and it is not easy to find one. But we want because we see Saab as a good investment, “he says.

…….TT: What would happen if the Bank withdrew the loan?

– In theory, this Saab would go bankrupt in a few days. But it will never happen. There is no reason for it. I see no risk that the Swedish state would have to go in and take over the loan, “said Vladimir Antonov.

There’s more at the SvD link and I’d encourage you to Googletrans it and read it through.

I think it’s fair to say this puts Antonov’s quotes from earlier in a much more informed context.

I still think the potential for damage is bigger than it needs to be, but I don’t know anything of what Antonov knows. The man has his reasons and these deeper articles seem to bear that out (and thanks to TT for putting the new articles out there and SvD and E24 for picking it up).

Erik D
Guest
Erik D
5 years 6 months ago

A clarification of the article from SvD:

” His lawyers have not been able to make an appointment” (With the EIB)

The overall theme of the article in my opinion is that Mr Antonov is becoming impatient with not being allowed to invest in SAAB… There’s a section at the end where he states that he and Victor Müller are looking at ways to repay the EIB loan by taking out loans elsewhere in order to allow Mr Antonov in as an investor…

Lasse
Guest
Lasse
5 years 6 months ago

Plus that EIB processes take time. He maybe wanted to take up the issue now and make pressure to be prepared in the case that the sales don’t meet the target. The article now gives a much more detailed picture about what has actually been said. The message of Antonov is clearly positive – if sales not reach the target and if there will be troubles because of this I am there to step in. After reading this one gets the impression that what was intended to be a positive message was turned into the negative by the journos.

saabdroid
Guest
saabdroid
5 years 6 months ago

A slightly different take in Russian media. Antonov is presented by the respected Russian website Gazeta.ru as the owner of Saab (and Spyker), and he himself says that he gave Castriota free hands on the PhoeniX. Linked via google-translate:
.

And even though I know we will be seing less of you Swade, it is good to still see you posting at full speed!

NC
Guest
NC
5 years 6 months ago

Wow, he also said that Armand Group has been signed as the new Russian importer! Finally! They are most known for their Peugeot dealerships, but used to have a Saab dealership in Moscow as well. Hopefully the other current dealerships remain too.

saabdroid
Guest
saabdroid
5 years 6 months ago

Sorry for that, first time linking here! The link is in the last sentence.

Smithy
Guest
5 years 6 months ago

This is actually the hate subject number one when it comes to Saab and ignorant, grumpy Swedes – if Saab is to be financed by taxpayers, people will be pissed.

But that’s not the case now is it…
Good luck Antonov, save this ship since it, realistically seen, could be in better shape than it is.

Patrik B
Guest
Patrik B
5 years 6 months ago

The previous headline (they have cleaned it up now) on DN.se was “Antonov: Saab to go bankrupt in 5 days“.

Now it says: “Antonov warns: Saab can go bankrupt in 5 days“.

Really special with two bad head lines on one article in just a matter of hours…

JH
Guest
JH
5 years 6 months ago

That is extremely ignoble by DN! That is on the verge of defamation! :@

Carl-Henrik
Guest
Carl-Henrik
5 years 6 months ago

That first headline made me so darn angry that I used the “correct the article”-function and really let loose a volley of hard words towards DN. And I’m not the only one who did that when you read the comments.

Journo’s might be jurno’s, but they have to do it right!

Red J
Member
5 years 6 months ago

I’ve read the article, and it puts Antonov and the whole case in a better light, but Antonov should know about the danger of the press taking his sentences out of context.

Swedish and non Swedish.

The Spyker shares have reached today a low of 3.80 at 11:40.

Johan
Guest
Johan
5 years 6 months ago

The problem is that he talks about stuf that he doesnt have a clue about! He say that he is not involved in the company and dont have access to the numbers but yet he say that SAAB cant survive on 60000 sold cars! Sometimes its better to be quiet Mr Antonov!!

This kind of statement doesnt help us dealers to sell saab cars!!

saabista63
Guest
saabista63
5 years 6 months ago

I tend to agree with Johan, although I’d rather not put it in such harsh words.
I think this is more a PR thing to bring some focus to VA (“Don’t forget, I’m still there and ready to invest!”), especially after the very successful performance SAAB made at the Geneva show.

Carl-Henrik
Guest
Carl-Henrik
5 years 6 months ago

I both agree and disagree with you. He said that it is his own personal impression and not an official statement. But then on the other hand it could be questioned why he does talks about his own personal impression on that matter to the press.

saabista63
Guest
saabista63
5 years 6 months ago
I tend to agree with Johan, although I’d rather not put it in such harsh words. I think this is more a PR thing to bring some focus to VA (“Don’t forget, I’m still there and ready to invest!”), especially after the very successful performance SAAB made at the Geneva show. Another possibility would be that the EIB-loan-story was already boiling and the Antonov statement was supposed to be an anti-missile to make a dementi unnecessary. In any way, it is difficult to know what this means without any thorough background knowledge – which in this case we all lack… Read more »
WM
Guest
WM
5 years 6 months ago

I respectfully disagree. This is a damaging statement, fact or fiction (I like to think fiction). And if this is a statement meant to provide leverage for investment purposes, I think it throws a lot of doubt on his suitability as a SAAB investor. He certainly can’t hold a Board position if he’s going to make statements that are demonstrably NOT in the best interest of the company.

Honestly, he now needs to walk it back or shut the hell up. Preferrably both.

RS
Guest
RS
5 years 6 months ago

WM, I have to agree with you last statement.
First time in over a year I was able to read that “A dark cloud hangs over Saab says V.A.” at one of my regular (not Swedish) news feeds. What a shame it was one of the ‘inside guys’ that just put the cloud up there right after the Geneva success.

Lars Jorge
Guest
Lars Jorge
5 years 6 months ago

In some way I understand VA. Why should it take so long time to get him involved in Saab?

Johan
Guest
Johan
5 years 6 months ago

Lars Jorge, But that isnt SAABs fault so why go out and hurt SAAB even more?

saabista63
Guest
saabista63
5 years 6 months ago

Exactly! This doesn’t make sense.
Still, we don’t know much about the background.

Lars Jorge
Guest
Lars Jorge
5 years 6 months ago

If you read the article it is not so bad as just the sentence.

Robert P
Guest
Robert P
5 years 6 months ago
Victor Muller is preparing a Press Relase: Muller: Antonov statement “complete nonsense” STOCKHOLM (Reuters) – The decision of the Russian investor Vladimir Antonov Saab sales goals are not going to get, is,”complete nonsense. That said CEO Victor Muller of Spyker Cars Thursday against ANP. “They (the statements) are completely and entirely at the expense of Mr. Antonov. They are in no way supported by the board and the supervisory board”said Muller. Muller did not specifically request comment on the statements of Antonov on sales targets. “I am going to make a press release and do it quickly.” Antonov, who last… Read more »
Red J
Member
5 years 6 months ago
RS
Guest
RS
5 years 6 months ago

What’s the urgency to get rid of the EIB loan? Wouldn’t it be better to wait for the JC 9-3 hatch to come out first. It would be a thousand times easier to “attract” investors (including the community and workers) from the open market with two years of independency and a good product lineup under the belt.
Of course now its the time to get in for a bargain especially with a little bit of scaremongering about full year sales predictions, in the middle of March.

rodmylon
Guest
rodmylon
5 years 6 months ago
I have no problems with the later articles. They give quite a correct picture of the situation. Perhaps he should have pointed out more clearly that the number of sold cars was only his (uninformed) prediction and that depending on how much costs Saab can save the situation might not be that bad. Anyway I sent “angry” or perhaps corrective e-mails to DN, DI and Expressen. Other swedishspeaking persons could do the same! Point out the complete article in the other (competitor) papers!! It probably won’t change it this time around, but it will stay in the back of their… Read more »
CJ
Guest
CJ
5 years 6 months ago

Relax everyone! Saab has well documented challenges but she ain’t going anywhere.

Things never go exactly as planned. VM and the team are just fine.

Cowboy Up!

rodmylon
Guest
rodmylon
5 years 6 months ago

I’m not doubting that. But the Swedish press repeats these stupid lies so many times that potential Saab buyers in Sweden start to hesitate. That’s my concern. I leave the real (corporate) challenges to VM&JAJ, but the press is not under their control… Glad to see you around here still 🙂

ivo 71
Guest
ivo 71
5 years 6 months ago

Well, here is perhaps one challenge too much: VM qualifies VA’s statements as ‘complete nonsense’. Not a very friendly description if VA is the intended financier for and shareholder in Saab for the next several years. Falling out between friends or an ultra-sophisticated trick to manipulate the Spyker/Saab share price? I just don’t know.

Ivo

Dan
Guest
5 years 6 months ago
I expect that a rumor of this magnitude would take strong measures to stuff it back into the box that it came from. It does make me leery of having Vladimir too involved with Saab, I can quite easily see him getting involved in a deeper, heavier financial manner and then calling the shots. I would have to argue that Jan Ake knows more about running a car company at this point, and would hope to see some deference to experience. With that said a return to rally and getting the resultant headlines would be a more worthy cause in… Read more »
gunteman
Guest
gunteman
5 years 6 months ago

In other news. I just got back with my 9-5 -00 from the yearly vehicle inspection. As always, not a single remark. 250000 km without any real problem, except lousy rear dampers. 🙂

TP
Guest
TP
5 years 6 months ago
I would like to see SAAB in a situation of exceeding sales targets, news stories about SAAB exceeding expectations will help build the positive momentum thats so much needed. The best way to do this is to drive strong demand for the brand, the 9-5SC, 9-4X and Griffin will all play an important role as new desirable product is the #1 demand generator. You might think I am stating the obvious, but there is also a denominator in this equation, which is the target. And setting targets is very tricky. If set agressively´, you get short term hype from dealers,… Read more »
SAAB_andee
Guest
SAAB_andee
5 years 6 months ago

If SAAB /Spyker has to communicate about sales they can do it after first or second quarter — not before. that´s unserious. First of all in this forum we talk about car registrations. not directly about sales and orders. So we don´t know anything which allows us to comment sales targets on a serious way. The new models aren´t in sale yet (but to order)

Johannes
Guest
Johannes
5 years 6 months ago

Pure speculation of course, but my feeling is that VA knows perfectly well what he is doing. He is talking down the price of the share before going in.

rodmylon
Guest
rodmylon
5 years 6 months ago
Don’t know if this has been mentioned here yet, but according to Daniel Barr on Riksgälden (the Swedish state organization that is the one who granted Saab the state security of the loan) the Saab deal has a clause concerning bigger owner changes. He says that they will assess any such situations if they get a request. None has been filed concerning Saab/Spyker. I have no idea how such negotiations proceed and where Antonov/Spyker has to start. Still it seems somewhat weird. Why haven’t they started at Riksgälden? (This part about Riksgälden was from a TT article in a finnish… Read more »
emil ruda
Guest
emil ruda
5 years 6 months ago
“Akut kris hotar Dagens Industri Det hänger ett svart moln över Dagens Industri” Om ingen köper Dagens Industri på ett år framåt, och de inte får några annonser, kommer Dagens Industri att gå i konkurs inom fem dagar. Detta säger Bankdirektör Jules Vedbom som inte tror på Dagens Industris säljprognoser. När konkursen är ett faktum kommer jag att köpa in mig som ägare av tidningen enär jag spår en lysande framtid för densamma, konstaterar Bankdirektör Jules Vedbom förnöjt! Emil, we appreciate every single comment here, and most if those are so funny like yours, but most people her don’t speak… Read more »
OddJob
Guest
OddJob
5 years 6 months ago
The paper edition of Dagens Industri (DI) is as always somewhat more nuanced than the online version di.se. The first words of the intro chapter in the paper edition says: Vladimir Antonov want’s the Swedish Governement to….bla bla So the whole story is aimed to put pressure on the Swedish Government to move their a** acting against EIB for Antonovs (and Saabs) case. It also signals that Antonov is eager to start the investment NOW. The timing for this news may not be right for Saab right now, when there’s so much good news with Geneva etc. From Antonovs view… Read more »
Jeff
Guest
Jeff
5 years 6 months ago
I think it’s pretty simple. Vladimir is ****ed that the EIB isn’t letting him invest yet. He goes out and makes some statements to indicate that he’s prepared to let Saab leverage his cash to get through hard times and thus keep the EIB loan safe and secure. Problem is, he probably got a little to chummy with DI reporters in giving his opinion that supports the need for him to step in as early as possible (Saab not meeting forecasted sales numbers). Not exactly the best idea, and I’m sure he owes VM and the Saab team an apology,… Read more »
NLSWEDE
Guest
NLSWEDE
5 years 6 months ago

Great to here from you CJ it will always cheer us up.
I agree with your comment.

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