It’s not time to point a finger at somebody

But the clear answers of Ms Anna Petre, Saabs PA officer, in an interview with the Swedish publication Resume, makes me feel sad.

….we knew we would get a dip in finances in April. The plan was to solve it by letting Vladimir Antonov purchase our property and lease it back. The government said “yes”, but the European Investment Bank said “no”…..

Some SU-readers won’t like what I will say, but this is my personal opinion, and I will not change it.

That NO from the EIB to Mr Antonov has costed Saab millions of Euros, Crowns, Dollars and Pounds, and a production Stop that didn’t have to be.

The Swedish government, the ones with the loan guaranties, had no problem with Mr. Antonov, the Bank, which would get the money either from Saab or the Swedish government, had a problem with Mr. Antonov. Why? We will never know.

But there is one coincidence, although I don’t believe in coincidences. During the time the EIB was blocking anything Saab tried to do to solve their short term financial position, Eva Srejber was in charge of any financing business the EIB did in Sweden.

Ms Srejber left her position as Vice President of the EIB on the 30th of June, as her term of office ended. Four days later the EIB says YES for the first time to a inquiry from Saab.

Yes, this may be pure coincidence.

Now Saab has spent a lot of money on nothing, many markets have lost (once again) the confidence on the brand and Saab will sell, after all that turmoil, 50.1% of the shares in Saab Automobile Property AB to a consortium of Swedish real estate investors, led by Hemfosa Fastigheter AB.

I think Saab had better plans for the last three months!!!

Ben
Member
5 years 2 months ago

Good to see TTAC realise they don’t know that they are on about.
http://www.thetruthaboutcars.com/2011/07/saab-and-youngman-to-spin-356m-into-3-cars/

turbin
Member
5 years 2 months ago

Swade’s final comment is GOLD.

Audun
Member
5 years 2 months ago

+1 🙂

Toby K
Member
5 years 2 months ago

He’s the Daddy ain’t he?

Tripod
Member
5 years 2 months ago

Well, that was the first and last article I have read at “TTAC” and will ever read. Such a bunch of … they can write that much and not even bother to check or try to understand the facts? Gee.

SAAB_Andee
Member
5 years 2 months ago

but it also should be said that VA wanted shares for this sale and leaseback deal . If they had done this deal like the hemfosa deal (without approval of ownership)- it would have been much better.
if we remember EIB and NDO gave a informal OK for such a deal at the end of april

MK
Member
5 years 2 months ago

Yepp. It feels like it’s more than an coincidence.
Can only hope that the rest goes faster now, if it does, then we now for sure it was not a coincidence.

hughw
Member
5 years 2 months ago

assuming that it may not have been a coincidence, what was Ms Srejber’s motive in torpedoing any deals.

Carlo A
Member
5 years 2 months ago

political feud between different parties? possible?

we experienced a very similar situation with the sale of Alitalia to Air France …. at the end it cost the tax-payers billions …

Jonas Axelsson
Member
5 years 2 months ago

Are you sure that Ratzinger guy in Italy didn’t have his fingers in this pie?

mnztr
Member
5 years 2 months ago

What a stupid woman. I cannot see any justification for this decision, and I think it has singularly seriously damaged the reputation of the EIB. In the future any other companies will hesitate to do business with the EIB which will essentially render them useless as an institution.

spacy
Guest
5 years 2 months ago

”Saab will sell, after all that turmoil, 50.1% of the shares in Saab Automobile Property AB to a consortium of Swedish real estate investors, led by Hemfosa Fastigheter AB”

And at a lower price………

spacy
Guest
5 years 2 months ago

.
TTAC’s commentators need new calculators…………………Oh, maybe their Batteries have run flat, like their comments.

COMPLETE IDIOTS

Mark
Member
5 years 2 months ago

It’s a pity that the EIB can’t be sued for all the delays and what they have cost Saab.

OddJob
Member
5 years 2 months ago
Quote from the above: “That NO from the EIB to Mr Antonov has costed Saab millions of Euros, Crowns, Dollars and Pounds, and a production Stop that didn’t have to be.”is really an understatement” To my guess it has costed as much as the new funding has brought in (4-600 million SEK) and that’s all because of the Swedish Gvt/EIB unwillingness to make this deal progress. The main reason for the government is to to statue an example with Saab – Message:”There is no way the govt is going to support private enterprises whatever the …..yada yada” One of the… Read more »
anders
Member
5 years 2 months ago

I think it will all come down to this man.. Our beloved Swedish finance minister Anders Borg.

He hates the automotive industry, and he is a board member of EIB
http://www.eib.org/about/structure/governance/board_of_governors/anders-borg.htm

spacy
Guest
5 years 2 months ago

There is far to much, conflict of interest in this whole matter…………….!!

Uddo
Member
5 years 2 months ago

In Japan gebaut werden??
All three models will be built in Japan??

http://www.automobilwoche.de/apps/pbcs.dll/article?AID=2011110709972&NL=1

Petteri
Member
5 years 2 months ago

Is this old news or why hasn’t anyone commented it?

From the Anna Petre interview:

har en uppdaterad 9-3 som klarar miljöbilsgränsen, ska ha ner nya 9-5 under den gränsen snart

“We have a refreshed 9-3 that emits below 120g CO2/km and will soon have the new 9-5 below that limit”

I know there have been various indications of this, but I hadn’t seen it mentioned so explicitly before. I guess we’ll here more about this in the near future!

wpDiscuz