Press Conference with receivers *Live updates

Today at 09:00 CET the receivers will host a press conference.
Follow it here constantly written in swedish at:
http://sverigesradio.se/sida/artikel.aspx?programid=125&artikel=4937017

Please, don’t be to excited. The only thing I expect, is that they announce that the bidding process will start, and that many parties have expressed their intention to make a bid for Saab as a whole or for parts of Saab.

__________________________________________________

Tim taking over with live update:

– Administrators reveal that there are five interested parties in all of Saab and a number of interested parties who want to buy parts of Saab.

– Their identities are not open for comments

– So far no bids have been placed

– A buyer will probably only be presented once the deal is done

– The time-pressure is being felt, there is not a lot of money available to waste on time

– The administrators are open for bids from anyone, anytime. This time it is not just a matter of price but other factors are important as well

– The administrators only has a factory to sell and no licenses with GM are available, it is up to the buyer to deal with GM but the administrators can mediate the issue with GM

– However the administrators refuse to comment on whether they have spoken to GM or not

– A question was placed on why things are kept secret? the answer is due to commercial issues

– Not a lot came out of the press-conference, some question the reason for having it at all…

The press-conference is now over.

dezzer
Member
4 years 7 months ago

oh no!!!!!….off to work in a minute

alwaysSaab
Member
4 years 7 months ago

Hope to read this – “Saab has been successfully sold to XXX. The company has contacted all suppliers and it is now in the process of recalling all its workforce with a view to commence production of Saab cars in a month’s time.”

dezzer
Member
4 years 7 months ago
conversation with a main dealer yesterday ( not local to me ), ” Hi, i believe you are now honouring the free 2year servicing pledge”, REPLY,” NO we are not, haven’t you heard , SAAB is dead”, ME…”No it isn’t, have you not heard that saab is now back on with the servicing”, REPLY…”I think you are wrong there, saab is no more, where have you been for the past couple of months” ME…..” I suggest you check o n your last statement as you may be dipping out on a lot of business” REPLY…..” No mate….SAAB IS DEAD”’………phone is… Read more »
Karl Ask
Member
4 years 7 months ago

Saab UP !!!

TobiasE
Member
4 years 7 months ago

From the press conference:
There are 4-5 companies which are interested in buying the complete company, and 5-10 interested in buying parts of SAAB.
They don’t want to mention any names of the companies interested.
It’s not only a matter of price. They want to evaluate (the best buyer I guess).

David-SAAB
Member
4 years 7 months ago

Surely the administrators won’t sell it piece by piece considering the amount of interested parties in purchasing the whole of Saab.
GRIFFIN UP EVERYONE. THE MOMENT WE HAVE BEEN WAITING FOR IS NEAR!

Trued
Member
4 years 7 months ago

Followed the TEXT conversation / report on P4 West
To sum it up NOTHING new came up!
It was not a Press Conference according to the lawyers it was an Information meeting,
Sorry to say no new Information came up this time.

Patrik G
Member
4 years 7 months ago

I agree this was really a non-saying press conference. What I read was just the sentence “no comments”.
Disappointing is the word. It would be better if the receivers talked freely instead about things they could say.

jouni72
Member
4 years 7 months ago

Following this press confrence online trough sverigesradio website, I just felt that why this conference was hold, almost all of anwers to journalists questions were: “We can´t comment on that” But anyway, thisngs are developing and I feel positive.

GerritN
Member
4 years 7 months ago

Hah, no one seems to get it. Even when a lawyer says “No comment” he/she still gets paid. For an event like this the lawyers will get paid, at least, 5 times more than when they are just sitting in their office doing real work.
I’m pushing my kids to become lawyers so that they can buy me a Ferrari when I’m 80 🙂

kochje
Member
4 years 7 months ago

Do it, one of these five; and do it soon, while otherwise nothing will be left.

David-SAAB
Member
4 years 7 months ago

I guess we need to continue to sit back and wait. This will happen this week, I honestly don’t think a matter of a few extra days will make huge difference now. A deal will be one, I don’t think we can deny that now. The question is obviously who, when and how. I guess all I can do now is continue to check Saabsunited.com every 15 minutes as I have been for the last month and a half! And yes a red light at an intersection can provide essential Internet time 😉

Coke is it
Member
4 years 7 months ago

A quote from Seinfeld can summarize the press conference: “It was a show about nothing”.

Ralph
Member
4 years 7 months ago

At least we went from “four to five” to “five” interested parties…

Marco
Member
4 years 7 months ago

So they were wasting their “no time” on a press conference where they revealed nothing… These must be pro’s… 🙂

alwaysSaab
Member
4 years 7 months ago

Two things they disclosed very clearly were that Saab is running out of money and time to find a solution is tight.

jouni72
Member
4 years 7 months ago

Yes, and that means companies who give offers as soon as possible and have a plan to show what to do with Saab, will be the first in line. That maybe puts YM again back in pole 1. But as it has been said,we don´t know how much other parties have been done behind the scenes. My wild quess is that at least one of them have a deal with GM

saabyurk
Member
4 years 7 months ago

I like YM, but I wonder how a bid from them can be accepted because of the spectre of a 3-month NDRC approval process creating a cloud of doubt hanging over their heads (unless YM pays all engineer’s salaries and plant costs during those 3 months).

twan
Member
4 years 7 months ago

according to today’s edition of automotive Pang Da Automobile Trade Co., a major Chinese auto distributor, owes up to $8 million (50.6 million yuan) to two foreign intermediaries for advising it on the unsuccessful bid launched last year for Swedish carmaker Saab Automobile.So for you guys of Saab YM could be this white knight
hopefully

TonymacUK
Member
4 years 7 months ago

” Not a lot came out of the press-conference, some question the reason for having it at all…” Hear, Hear!

Saabissimo
Member
4 years 7 months ago
To those who ask what the point is to have a press conference if you have no news: Think again. I think the answer is obvious: Put yourself in the shoes of the administrators. People are hungry for information and the press are constantly chasing them. They are involved in confidential business dealings with a number of parties and can’t really comment publicly on this. But they need to get that annoying press off their backs so they can actually do some work. So what’s the best way to manage the press? To get those people off their backs they… Read more »
Audun
Member
4 years 7 months ago

+1

jond
Member
4 years 7 months ago
‘This time it is not just a matter of price but other factors are important as well.’ Actually, apart from the (now) five interested bidders for the whole, this quote is also interesting. Since SweGov will own Saab Parts and Tools they can exert pressure to ensure that a successful bidder will pay due attention to the employment and development prospects for THN and the surrounding areas, or for that matter any other objective they may have. So, the successful bidder must have a comprehensive and credible plan that addresses these issues and satisfies SweGov or they won’t be successful,… Read more »
davidgmills
Member
4 years 7 months ago

Actually, I am more encouraged by this than I have been in months. The administrators admit they have four or five potential buyers who are interested in saving Saab and that they will look at the whole deal long term rather than just best up-front offers. And time is very short so they will have to make a decision in a hurry. And if they do, and people like their decision, then maybe dealers, suppliers and workers will be encouraged to hang on a little bit longer.

jond
Member
4 years 7 months ago

Yes, what all these interested parties need is certainty, so that they can plan. The Receivers obviously understand this, but will not be rushed into making a judgement before all the detailed bids are to hand and all serious parties have had a reasonable time to formulate them. In due course the Receivers will have to justify their decision and must be seen to have paid due regard to all the possibilities.

saabman
Member
4 years 7 months ago
I agree with the above suggestion that the administrators were probably trying to get the news-hungry press off their backs while they do what they need to do. Given, however, their repeated statements that they are running out of time would suggest that they need to come to some conclusion soon. So, I am wondering why they haven’t set a deadline for potential bids, as they did for the museum. I can understand not making it too early, since they want all parties to have a chance to prepare to submit one. But how are they to evaluate if bids… Read more »
Saabissimo
Member
4 years 7 months ago
I think it is difficult to set a bid deadline before the full list of assets (“bouppteckningen”) is ready. Remember, the museum bid deadline was accompanied by a detailed asset list. In order to have a bid deadline they will first need to produce a detailed description of what exactly is for sale. We will most likely not see the full asset list for a long time yet though, but the receivers have stated that they are still open for bids at any time in the process based on information at the time, hence the fluid deadline. So we will… Read more »
900jubileum
Member
4 years 7 months ago

I don’t think the lawyers are accustomed to the press. But that’s obviously not credible to hold a press conference and say “We will not comment on that”. There was no news about the bankruptcy progress either. I would suggest to them that they hold a press conference when they have news in the future.

Nick
Member
4 years 7 months ago

Had a talk to a dealer today and he will not continue sell new SAABs no matter if SAAB are sold . Many more will follow apparently. 🙁 Really sad news.

davidgmills
Member
4 years 7 months ago

I can understand the sentiment but if the right buyer buys Saab and it looks like Saab will have a long term future, he might reconsider if it happens quick enough. I guess it would depend on his loyalty to the brand and whether or not he has other brands to sell or can get other brands to sell.

MeanSabean
Member
4 years 7 months ago

To Bad for them, new dealers will be found Saab has a terrific product and with the right buyer and a big cash flow Saab will ride again!!!

orion
Member
4 years 7 months ago

“The administrators only has a factory to sell” , doesn’t sound promissing to me. It’s like an empty building with no beating hart. Maybe we’re believing to much and can’t think objective anymore? Sure we hope for the best, but it’s like a lucky shot we’re waiting for. It’s a strange thing, i’m not afraid of the buyers (of the whole lot) but more of “mistakes” of the lawyers/administrators.

900jubileum
Member
4 years 7 months ago

Well, we’ll see how it develops in the future. It feels, anyway nice that the museum is in safe hands.

saaburban
Member
4 years 7 months ago

I hope Jaguar buys saab.
– they got the money.
– they got the dealerships
– they know what branding is all about.
– they got a financially strong parent.
– they used to co-develop things with ford/volvo.
– they would raise the status for Saab just by association.
– they need expanded production facilities, so could fill the gap until the next gen 93 is produced.

Jaguar-Landrover-Saab would make handsome dealerships.

OLEH
Member
4 years 7 months ago

Agree with ORION 100%

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