Saab’s filing with the court

At 3:48pm, Saab’s General Counsel Kristina Geers sent an e-mail to the court notifying them that Saab, for the moment, has no statement to make pending further discussions with interested partners.

Saab and its owner is currently engaged in intensive negotiations with relevant investors securing future continued financing of Saab’s business. The outcome of these negotiations, that are very close to being finalized, are vital to be able to present the court with the statement requested. As a result, Saab cannot provide a statement at this time. Saab intends to fulfill the request as soon as possible. Saab is conscious of and respects the schedule the court is following.

The e-mail had been printed, scanned and then published on the court’s webpage. I have translated it very quickly and the gist of it is as follows: More information will follow.

Motoradd's Cat
Member

Sounds like a serious game of Poker is going on somewhere in Sweden.

I guess it looks like Saab will be in the full ownership of Pang-Da and Youngman very soon, so long as the price is right.

So long as Saab survives and Trollhatten starts up again I can’t see this being a major issue.

leinad
Member

What a thriller… At the moment I am writing a course work but every 5 minutes I refresh saabsunited 🙂 It’s the best available entertainment. I am relatively sure it’ll have a substantial happy end. Let’s hope there will be a press release tonight.

TurboLamko
Member

If Volvo did it, Saab will do it! 🙂

nichell
Guest

We will keep fighting and never surrender. Never! Encouraging words from Margaret Thatcher. The Iron Lady.

hughw
Member

I think you have the wrong prime minister. Try Winston Churchill.

Niklas G
Member

>I guess it looks like Saab will be in the full ownership of Pang-Da and Youngman very soon,
>so long as the price is right.
He he, I read that as “Saab buying Pang-Da and Youngman as long as the price is rigth”. Too muchh Pepsi perhaps? 😉

Fingers crossed for a good outcome of the negotiations. No need for Saab to report anything in public before that.

Piet-Hein S.
Member

did anyone already see and hear the fat lady practising?

Niklas G
Member

What fat lady? 🙂

zippy
Member

Im just hoping she tripped up on her dress on the way to the stage and broke her jaw!

Jeff
Member

She’s backstage. But she will sing today, maybe not for Saab as a company but certainly the Saab we knew. It’s the day everything changes.

WM
Member

Not trying to cluelessly speculate, but should that be read as ominously as it sounds? Yikes.

quickbird
Member

Come on, come out with a good deal. I am so nervous these days, afraid any bad news from my love Griffin.
SAAB UP! GRIFFIN UP!!!

TurboLover
Member

+ OG900

Piet-Hein S.
Member

why OG?

why not 9000?

😉

TurboLamko
Member

HEY the OG900 is one of the best Saabs ever 😉 And the 9-4X will be the best newest Saab ever 😀

Eagle63
Member

insiders know the 9K was the best….

Quijote
Member

My Viggen is dying. I just want Saab to survive so I can buy a new 9-3, 2.0T. Chip that whip, do some air filter and intake, exhaust upgrades, and it’ll be a revived Viggen. But I can’t bring myself to purchasing a vehicle whose warranty would be useless.

Come on Saab, I’m pulling for you!!!

fanofsaab
Member

c’mon Quijote. you’d let warranty stop you from buying a new???….why not a 2011 9-3 2.0T (AT, Moonroof, cold weather pkg w/ 33,920 MSRP) for under 31K including aftermarket warranty (5 yr 60k mi)….still more car for less money than Japanese, Korean….

coggs
Member

Boy, this sure is sounding too much like “The check in the mail” for me to get all excited. More like “We are about to put the check in the mail.” But damn, I hope I’m wrong.

hughw
Member
Some of you have played the conspiracy theories: 1/ Maud want windmills. 2. Lofalk has ulterior motives and is in it for his own enrichment. 3. The Chinese are going back on the deal 4. VM just wants to rape Saab for whatever he can get. 5. The Swedish government want Saab to disappear. 6. Etc. There’s another take on all this, and that all parties really want Saab to remain in Sweden as a vibrant world class entity producing great cars. This isn’t to say that the stakeholders all come at this from slightly different ways, but perhaps everyone… Read more »
TurboLover
Member

I’m with you!

Swizzy
Member

+1 me too…

Niklas G
Member

I’m hoping that Saab can use GM for their advantage there, convincing Youngman and PangDa that if they try to get 100 % they will just end up getting a big NO from GM.

For sure, a 100 % takeover could be good, we do not know that, but it would feel more save with someone like VM in the board room pushing strongly for making Saab Saabs in Trollhättan

quickbird
Member

“5. The Swedish government want Saab to disappear.”
Just don’t understand why Swedish doesn’t care about SAAB… They hates SAAB? How’s the sales for SAAB in Sweden?

rune
Member

certainly no picnic without the 9-5 combi.

TurboLover
Member

Well, Tim Rokka is Swedish. He does not seem to hate Saab…

Usualy Saab have 7-10% of the Swedish market (not the latest 3 years of cource) so I woyld say in general that Swedes love Saab, but their are of course exeptions

maanders
Member

I hope you are right, but if that is what they all wanted, why wait until the last minute rather than do this a month or two ago?

saabo
Member

Griffin up!

Hirsch
Member

Good for Saab. By all appearances, the Swedish government wants Saab to fail and has sabotaged the negotiations from the start. Let ’em wait!

Chicago Fred
Member
I predict that VM will come out smelling like a rose (personally) and that SAAB will be a 100% Chinese owned company. While I think VM was truly personally interested in SAAB’s success, he is simply negotiating for is life right now. VM will not be part of SAAB. The Chinese will own it outright. And Sweden will ultimately lose the jobs to China. Ultimately the Swedish Govt is the villain here–they never wanted SAAB to succeed. And the biggest winner of them all? The person that SAAB supported to administer their reorganization: Guy Lefalk! He REALLY comes out smelling… Read more »
Jeff
Member

Fred, you’ve been right in the past and I’m afraid that you’re right again. If I were Victor and I’d lost my sister and father in the process of this turmoil, I’d turn around and never look back. That’s the right decision for Victor. However, even if that’s what’s announced in a few hours, I’d caution everyone to look behind the actual plan at the backup plan (which will likely remain hidden), as the conditions placed on Chinese ownership by GM are likely to be nearly impossible to meet.

Ronnie_Rad
Member

thanks for the hints you’ve been leaving Jeff 🙂

Victor may get a bad rap from some (including me at times!), but his legacy at Saab remains golden. The man who saved Saab Automobile….several times. Honestly, I have a gut intention, for the reasons you stated about GM, think that the backup deal may actual come to fruition when it’s all said and done.

Just hope we have enough time.

Ronnie_Rad
Member

It’s the quiet before the storm…….

Tomorrow’s D-Day…!

No matter the outcome of who becomes Saab’s owner, I am glad to see this storied, wonderful, tenacious brand finally get out of it’s midlife crisis stage alive and start making some more kickass cars!

My ideal match-up would be SWAN, Pang Da, and North Street Capital all as collective owners (NSC essentially kicking Youngman out of the picture all together, I personally don’t get a good vibe from those guys…), but we shall see tomorrow!

Stay optimistic 🙂

Jeff
Member

No matter the announcement today, your vision is mine too. And there’s still a chance for it.

OH
Member

New agreement clear not public yet. ” Strong reactions …” .coming up.

Henric Tungström
Member

Swedish media says the new China deal is done:

Swedish Automobile have agreed with the Chinese companies Youngman and Pang Da to sell Saab Automobile, according to sources of P4 West.

It´s at sr.se and reuters I think

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