Youngman’s bid rejected

While one of our sources told us that the bid was rejected, sverigesradio.se reports that the receivers are indifferent towards Youngman’s bid.

P4 Väst can now reveal how the bankruptcy trustees for Saab have stipulated conditions which may stop a complete solution for the bankruptcy case, according to several sources.

– In practice, the trustees have set conditions which make it impossible to conduct a complete sale of Saab in one piece, according to a source with good insight into the process.

The Saab bankruptcy trustees have recieved lots of criticism since being appointed on dec 19, and now they are facing the worst criticism so far. Because in the beginning of this week, Youngman placed a bid on the company – a bid worth several billion kronor, and meaning production in Trollhättan. According to sources to Dagens Eko, it would mean Youngman needing to employ more than 1000 people.

But the trustees have been bordering on indifference towards the bid, according to a source.

– In practice, the trustees have set conditions which make it impossible to conduct a complete sale of Saab in one piece, according to another source with good insight into the process.

The conditions contain, among other things, that GM must approve of a deal, according to a source.

The trustees are said to encourage bidders to bid for parts of the company, rather than for the whole thing.

– The trustees have no intention of selling the company as a whole, but prefer a split-up. It is very surprising that they have made this choice, and totally impossible to understand, says a source.

The two main courses of action that the trustees are entertaining are said to be that either Geely, Volvo’s Chinese owner, start a development center in Trollhättan – or that Chinese BAIC, in cooperation with Panasonic, start producing electric cars. But neither of these two options mean as many jobs in the future.

– If you don’t sell the company as a whole entity, you risk losing thousands of jobs.

P4 Väst have tried to get hold of the trustees for a comment, without success.

While we got the rejection confirmed we have to be careful with those sources regarding the plans for Trollhättan as there are many rumors out there. We’ll keep you updated as soon as we get to know more.

Smithy
Member
4 years 7 months ago

What…?

TurboLamko
Member
4 years 7 months ago

I don’t know what to think… But i think it is very good that someone is complaining about them!!

Not giving up so easy.

Eric
Member
4 years 7 months ago

As to this report, I don’t think GM should have a say in the potential Sale of SAAB nor any other creditors.
First, Guy Lofalk screwed things up & now this trustee.

I still have hope that this report is wrong of if it is true, things get set up so a sale of Saab as a whole can & will be done.
Some of the requisites are stupid.

Smithy
Member
4 years 7 months ago

“- Bankruptcy trustees have no intention to sell the estate as a whole, but they prefer a cutting.”
If they intent to split it up, it makes me furious! >;/

Eric
Member
4 years 7 months ago

Me too.
These trustees need to stop being so damn greedy.
Where is their freaking Swedish pride??
They should be ashamed of themselves!!

There should be all attempts to made for a sale of SAAB as a whole.
They should get bids from all parties interested in keeping Saab going in the future. Then depending on the best qualifications of each bidder & their plan for Saab & Trollhattan, pick the best one.
Not necessarily based on highest bid.

Splitting Saab off into bits is not the way to do this.
The trustee(s) are fucking stupid & greedy bastards apparently.

maanders
Member
4 years 7 months ago

They will not get more money splitting it up. That doesn’t make sense.

MikeSf
Member
4 years 7 months ago

Pride? Remember they are lawyers. Not much hope for pride, understanding, compassion, empathy, etc… .

maanders
Member
4 years 7 months ago

This seems very strange since that is not what they said in the most recent press conference. While that press conference did not convey much information, didn’t they restate that they hoped to sell Saab as a whole? So what now is this about not wanting to do that and sell it in parts?

julie@KellySAAB
Member
Smithy
Member
4 years 7 months ago

I’m afraid it’s correctly translated.
But it all seems very, very fishy…

They’re suddenly gonna abandon the goal of a complete sale?! Just like that!? :O

julie@KellySAAB
Member
Well I certainly hope the complaints about the administrators do not fall on deaf ears. Or come too late in the game to make any difference. I mean if they say OK- these admin. are doing a terrible job, we agree. Then we have to appoint new ones, wait for them to get up to speed, all the while employees are getting hired elsewhere and our customers are getting more and more sour taste in their mouths not to metion the addtl bad press it would all generate. this just can’t be good. maybe GM really meant what they said.… Read more »
quickbird
Member
4 years 7 months ago

WTF…

Right now I do understand that, SAAB’s failure in Sweden is not because of SAAB itself, but because of some games payed by somebody on it….

900 classic cab
Guest
4 years 7 months ago

+1 it’s getting to obvious…

Katsura
Member
4 years 7 months ago

After today’s development I wholeheartedly agree with you.
Swedish Pride? Swedish shame more like. Never thought I’d say this, but I don’t think Sweden deserves Saab.

I* will still visit Sweden, but only for the Saab Museum now that it’s saved.

hans h
Member
4 years 7 months ago

There is no such thing as swedish pride. We have “Jante”.

MikeSf
Member
4 years 7 months ago

+1 from me too

900 classic cab
Guest
4 years 7 months ago

Are they kidding ? GM’s approval even when someone is wiling to forget about them ? Sorry, but the Conspiracy Theory works for me. I wish there was something more we could do, as the rallies seemed to show nothing for those administrators.

Angelo V.
Member
4 years 7 months ago

Dave: I’m with you. I’m not sure about “Conspriracy” but I’ll put it another way: If this reporting is true, “The fix is in.” Our dreams to see Saab saved might be crumbling before our eyes—-and I have a sick feeling in my gut that we’ll never get the real story—-there might be big money behind the scenes—-wanting to squelch Saab—-and making it happen. Gee, I guess maybe I AM SURE about a conspiracy then. You’re right.

Alberto
Member
4 years 7 months ago

Well, there were 4 bidders, right? Maybe the trustees have another one in mind.
Or then, GM wants Saab to disappear. There are hints that go in this direction. Contracts have very recently been awarded to Saab aero and defense company and other swedish companies from US government and corporations. Just google and you’ll see..

Eric
Member
4 years 7 months ago

Is GM paying this trustee to see to it that SAAB gets sold off in bits so that the brand dies for good??
B/c, I could see GM doing that as they are paranoid of any additional competition from anyone & if they can help in killing a competitor, so be it.
SAIC may be the same way.

Evan Pagano
Member
4 years 7 months ago

This is bull

Greg Abbott
Member
4 years 7 months ago

Clearly the trustees want a bidder to have a license from GM to make the cars. Perhaps they have rejected Youngman’s bid because it lacks those GM licenses, and are waiting for a bidder who can license production from GM.

The big question is what do the trustees do when none of the bidders can get licenses from GM. How does Youngman’s bid compete with a piecemeal sale?

900 classic cab
Guest
4 years 7 months ago

“The big question is what do the trustees do when none of the bidders can get licenses from GM”
Exactly !

Pedro
Member
4 years 7 months ago

If the report is true, the answer is quite simple: they break the company up into pieces and sell it piece-by-piece.

Angelo V.
Member
4 years 7 months ago

And make more money personally as this will drag on until I’m in my grave—-and make less money collectively because I maintain that Saab as a whole, to Youngman and maybe others—-is worth more than the sum of its parts.

Pedro
Member
4 years 7 months ago

Problem is that without GM IP there’s not much to build (current 9-3 for a few more years as the Phoenix will have to be rid of GM stuff – unless new licensing agreements are made), so the buyer’s investment will have to be higher in order to sustain the losses and prepare for a 100% GM-free SAAB.

Breaking it up could be the value-maximizing option here (not saying it is).

Jelmer
Member
4 years 7 months ago

Don’t forget Swegov in this matter they have been known to rock the boat before….

What is wrong that somehow the people that killed Saab feel the need to kick to body again and again…

enor
Member
4 years 7 months ago

Seriously, you need to get someone who speaks Swedish to do the translations instead of using Google – the above is so poorly translated it even comes out completely wrong in several passages. The original article doesn’t say that the bid has been rejected, only that the trustees seem uninterested…

Analyst
Member
4 years 7 months ago

Which is a diplomatic way to say it’s been rejected.

Greg Abbott
Member
4 years 7 months ago

I appreciate the input on translation issues, that is a very helpful clarification.

mallthus
Member
4 years 7 months ago
I think we may reading a bit much into the tea leaves (so to speak). I think Youngman bring certain baggage from the earlier deals. Further, I’d not be surprised if the “truth” is more along the lines of GM, in deference to their Chinese partners, have said they’ll work to block any Chinese firms buying the entire estate and producing cars. My hunch is that they have no such blanket statement in place regarding Indian or Turkish concerns. Regardless of what we’d like “think” about the Phoenix platform and the current 9-3, they are both chockablock with GM IP… Read more »
Analyst
Member
4 years 7 months ago

Didn’t GM say they weren’t going to license it to *anyone*?

David-SAAB
Member
4 years 7 months ago

exactly

lundin
Member
4 years 7 months ago
To be honest i can also “understand” GMs position. But the hole story of getting that ultimate “no” was quite bizarre to say atleast if you remember. From that i learned that this recent event (if true) might be a reaction to one of the many joe-“no”-cain days where he randomly picks up the phone and call a swedish numbers and says: “to this I say noooo, we have to protect our shareholders from seeing better vechiles out there, can you image what a nightmare that would be for our people and our stock market value! No No No nonononono!!”… Read more »
enor
Member
4 years 7 months ago
Here’s what the article REALLY says, when translated properly: P4 Väst can now reveal how the bankruptcy trustees for Saab have stipulated conditions which may stop a complete solution for the bankruptcy case, according to several sources. – In practice, the trustees have set conditions which make it impossible to conduct a complete sale of Saab in one piece, according to a source with good insight into the process. The Saab bankruptcy trustees have recieved lots of criticism since being appointed on dec 19, and now they are facing the worst criticism so far. Because in the beginning of this… Read more »
Baver
Member
4 years 7 months ago

Ugh, that’s not much better for us.

Olav
Member
4 years 7 months ago

What do we actually know abut this? As far as I know we are all talking about new rumours here, that article is based on just that.

Let’s stay calm and carry on. It’s a long way left, we have just started.

enor
Member
4 years 7 months ago

I agree. The whole thing is just endless repetitions of “according to a source”… it’s just rumors

Eric
Member
4 years 7 months ago

GM shouldn’t really be much of anything in this equation since they don’t want to play nice. GM’s small stake in SAAB should more or less be considered dissolved.

Baver
Member
4 years 7 months ago

Revolt…revolt…revolt!!!

Baver
Member
4 years 7 months ago

Although, Youngman wasn’t my first choice…

David-SAAB
Member
4 years 7 months ago

im with you!

David-SAAB
Member
4 years 7 months ago

The revolt thing not the youngman thing.

Chris Ivory
Member
4 years 7 months ago

I am sure Youngman’s legal team must have been aware of this, before the bid. That this news has got out now, hours after the bid, has the smell of spin about it, and I’d wager that they were expecting this, if they did not push the news out themselves, to back GM into a corner. I have confidence that Youngman’s negotiators know what they are doing.

As GM is US Administration $ backed, I am surprise that they are letting GM’s crusade against competition in a free market global economy, or am I just naive?

Greg Abbott
Member
4 years 7 months ago
The idea that the US government is actively involved in GM’s decision making process is simply false. There are situations in which the government intervenes, but those are limited to issues with significant local political impacts (for example, the re-evaluations of the dealer reductions by both GM and Chrysler during the bankruptcy). To the extent that the government has an interest in GM’s behavior, it is simply that GM makes money to justify the existence of the bailout. The idea that the U.S. government would care even a little bit about the economic implications of GM activities outside the U.S.… Read more »
100%Saab
Member
4 years 7 months ago

The US Government is concerned about US jobs, period.

saabdog
Member
4 years 7 months ago

I wouldn’t be so fast to dismiss the US government’s involvement. GM’s current stock price means the company is in the hole big time. It wouldn’t surprise me one bit to see Obama’s hand in this. He is heavily invested in alternative energy (a losing proposition) and I think his administration would do ANYTHING to make sure NO ONE competes against GM. Call me a conspiracy theorist, but I surely wouldn’t discount Obama, et al playing dirty when it comes to shutting down any bit of competition they can.

Angelo V.
Member
4 years 7 months ago

Saabdog: I’ve been chastised here before for a couple “political” posts. So I won’t go into any detail, except to say that you are spot on, 100% on target.

saabtek
Member
4 years 7 months ago

Excuse me for being overly simplistic, but I blame OBAMA for everything.Loser!

ivo 71
Member
4 years 7 months ago

No, I won’t excuse you. Do you really believe that a Republican government would interfere in favour of Saab? Come on…

Ivo

Angelo V.
Member
4 years 7 months ago

Yes? No.

Gary W Gliddon
Member
4 years 7 months ago

$$$$$$$$ and more $$$$$$$$$!! It is very clear there is something dodgy going on here. Youngman need to enlist greater Chinese government support so that GM obstructions cost GM more than the outlay in refusal of these deals.

Eric
Member
4 years 7 months ago

Seems to me that the Chinese Gov could kick GM out of Chinese market if it wanted to.

Chek Enjin Soon
Member
4 years 7 months ago

Who’s the source and where is it confirmed that any deal has been rejected?

The facts, only the facts!

alwaysSaab
Member
4 years 7 months ago

Thought the right thing for the Administrators to so is to wait for all qualified bids to come in before making a decision? Are they just putting up a show and wasting everyone’s time as their objective is already firm which is to get rid of Saab?

100%Saab
Member
4 years 7 months ago

Well, I’m beginning to wonder. The Swegov might notice some of their other businesses are having problems, too. I’m rooting for Saab. My Saab 9-3s are going to last a long time no matter what happens.

What happens in Sweden shouldn’t stay in Sweden.

Just a thought.

julie@KellySAAB
Member
100%Saab
Member
4 years 7 months ago

I hope better offers are coming.

saabboy1
Member
4 years 7 months ago

As I said in an earlier post that parts of Saab have already been promised to other people. The report was rejected by the administrator of this site. But now it seems more likely that the story might in fact be true!

Simon
Member
4 years 7 months ago

Do you really think they care about Saab workers. They’re looking for money. The parts of Saab have a greater value than the whole company in one piece.

Business as usual for them.

Sad, very sad… not Saab!

lundin
Member
4 years 7 months ago

Does that imply that any offer that gives them (the admins and their companies) more value than having the former Saab as a client will be accepted ?

If so we, in Sweden, surely have turned the clock back some decades and from a social point of view erased everything we thought we know about socialism.

I think there are alot of params out there that we are not aware of. But yeah, i can understand your frustration and that things moves too slow.

alwaysSaab
Member
4 years 7 months ago

Not very sure about “parts of Saab have greater value than the whole….” though as we are looking at selling a manufacturing plant as a going concern as compared to selling bits and pieces from the plant as scrap.

Just hope that the Administrators will do sensible things like what a professional will do.

witek
Member
4 years 7 months ago

Are those mojos are appointed by GM?????????????????????????????????????????????????????????????????????

troy
Member
4 years 7 months ago

I feel that the Chinese bid is just not what all are looking for. No Government approval and no GM rights. 2 negatives that maybe the other bidders can overcome.

Baver
Member
4 years 7 months ago

Let’s hope so.

troy
Member
4 years 7 months ago
By the way. Gm got reamed on Fox News this morning. They gave a reporter a Volt to drive and it went terrible. He drove 40 miles in to work and the battery cut off after 20 miles and went to gas. He averaged only 30 miles per gallon overall. He said pain in the rear to plug in and all for 47K and 30 MPG. He also said car felt old already. The really funny thing is that before and after the report GM Volt was all over FOX for advertising. The reporters also bashed GM for the bailout… Read more »
lundin
Member
4 years 7 months ago
Thanks for the report, will try to find the clip on the net.I remember when they got the bailout and how they said Volt and small-sized vehicles was the the focus for GM….. OT. but over at autoblog there is a concept rendering of KIAs new track’ster. Very similar to a 9X concept in some details and many Saab design clues. I have seen this on many concept vehicles recently as well ( i think someone said that in another thread as well). Just image if GM was actually to produce the 9X back in 07-08 with a bio/gas engine… Read more »
paul
Member
4 years 7 months ago

The Hyundai Veloster reminds me a lot of the 9x concept cars, and it’s available today. There are other Hyundais that have some Saabish elements to them, too. At the very least, there are some Saab fans working at Hyundai.

I’m not looking for a new car, but if I was, I’d be really interested in that Veloster.

troy
Member
4 years 7 months ago

I thought the same thing when I first saw the Velociter.

troy
Member
4 years 7 months ago

If Saab doesn’t make it maybe I could get a Velositer and put Saab badges on it.
Just a joke.

maanders
Member
4 years 7 months ago

I thought so too, until I read reviews that say it is underpowered and a bit sluggish. So maybe practical, but not a fun drive.

rcase13
Member
4 years 7 months ago

Everyone should know by now that the Swedish government will never allow SAAB to survive.

troy
Member
4 years 7 months ago

They really have it in for SAAB. It’s funny how the US bailed out GM and now SAAB needs help and the Swedes Gov.don’t care. At the same time the dumbass GM people are screwing SAAB. So SAAB has GM and the Swedish Gov. wanting them to fail. That sounds hard to overcome. Sad really. GM has the nerve to let another company go bankrupt when they got a second chance. You think they would have some compassion.

Rolf Hägg
Guest
4 years 7 months ago

I think you may be right. I never paid too much attention to them till now but wow, what a govt indeed!

RS
Member
4 years 7 months ago

Everyone that has anything to do with the Govt seems to be pushing Saab into Geely’s lap for pennies on the dollar.
WHY?!!! Are they….?

hipchecker
Member
4 years 7 months ago

Well, Duh. I mean, is anyone surprised?

The Swedish government needs to tell GM where they can shove it and get on with what’s best for their countrymen. GM, after all, was the one who destroyed Saab.

troy
Member
4 years 7 months ago

seriously. The Swedes should never have let the big ugly GM buy them long ago.

Rolf Hägg
Guest
4 years 7 months ago

Then we all wouldn’t be here talking today as Saab would have been dead along time ago.

troy
Member
4 years 7 months ago

Maybe not. Maybe GM was just the one there first to buy back in the day.

David-SAAB
Member
4 years 7 months ago

There simply must be more to this story that we are not reading. The trustees have said on numerous occasions of the intention of selling Saab as a whole, with production in Trollhattan. Liars?
As for the GM thing that just does not make any sense. How can they possibly stop a bid when none of their tech would be used. Perhaps the “9-3” name? Let them have it, Saab can always go back to 900.

Petteri
Member
4 years 7 months ago
Well, they’ve emphasized since the very beginning that there are severe hurdles on the way to selling it as a whole. For example: “Selling it as a whole is of course our priority… BUT structures and co-operations have been established which affect the issues required to succeed. It is not easy.” They have mentioned these obstacles and difficulties on several occasions, which always sounded like carefully selected communication strategy (CYA) to me. But is there more to it? What if the task assigned to them is, indeed, to split up Saab? These administrators were appointed under somewhat shady circumstances. If… Read more »
100%Saab
Member
4 years 7 months ago

You should give some credit to the guys who manipulated the gas prices and credit markets, too. If enough Swedes bought Saabs then there would be no liquidation.

I sure won’t be buying a Volvo. Maybe a new Saab but certainly not a Volvo.

Sweden should get their act together. Call it their priorities if not national pride.

lundin
Member
4 years 7 months ago

Why not buying a Volvo ?

Marque
Member
4 years 7 months ago

Why do you think he needs to explain that…?

lundin
Member
4 years 7 months ago

You tell me, i would like to hear it.

Marque
Member
4 years 7 months ago
Well to me Volvo’s so distant to Saab, in fact, I fail to find any of those characteristics that made me love Saab, apart from the knowing they’re both Swedish… Thus, in case I had to choose a different brand, Volvo wouldn’t enjoy any special privilege. Saab’s design, style, quality, value and spirit, to me is incomparable and Volvo is just too far from that. That’s one opinion and it’s just mine, but I guess many similar opinions are floating around on a Saab fanzine (and being the same case not only relating to Volvo, but to most other makes… Read more »
lundin
Member
4 years 7 months ago
I see it a bit differently, but i hear what you say. The *thing* is, just like you points out. Just because you happen to appreciate the Saab philosophy doesn’t mean Volvo is bad. I think they share many ideas that is time-less. Volvo have had three core-values that should influence their development:Safety,environment friendly and good comfort. I would thought a Saab owner would appreciate those design-guidelines since they are very much in line with Saab values. The driver focus and HMI (human-machine interaction) is also something they share although i think they have stepped away from it in their… Read more »
Marque
Member
4 years 7 months ago
Thanks for the interesting bits of information reflecting on the common tracks of Saab and Volvo. However I still must say that despite the common points they evidently share, and despite some of the epic models they used to offer (eg.740&760), I still find Volvo’s image too bleak, and the cars themselves particularly too commercial to my taste, over against Saab’s pioneer and individual character, it’s prettiness, sportiness …and saabiness. 🙂 But really, words cannot describe what I felt when I first took a look at a Saab, some 30 yrs back, and what I’m still feeling when I look… Read more »
lundin
Member
4 years 7 months ago

Btw Saab was managed during a period 97-06 by a group of people that got the name “Volvo-maffian” lead by Peter Augustsson. They got the name becuase they came from Volvo and it trust me it was more than 1 😉

I dont claim this was the right thing to do, Peter himself was obviously not the man for the task but still.

Rolf Hägg
Guest
4 years 7 months ago

Hopefully its the fact that the handelers don’t want or trust YM. I for one don’t. What worries me is twofold, one, GM said they wont bend for anyone and two, I’m starting to suspect foul play with this whole process.

If I only knew this last year, I’d be in a warrantied Audi

David-SAAB
Member
4 years 7 months ago

Yes but you chose a Saab for a reason didn’t you? Audi don’t sell as well as other premium marques in Australia. Just a freckle above Lexus. Mercedes & BMW out sell them 10 fold. Once Saab is back up and running, they will also out sell Audi. (re badged VW)

Baver
Member
4 years 7 months ago

I am hoping the same. Tomorrow it will be announced that the bankrupt estate of Saab Automobile AB has been bought by a consortium of Koenigsegg, the Wallenberg Foundation, and Saab AB. I can dream a little, can’t I? GM sends flowers and a cake.

David-SAAB
Member
4 years 7 months ago

dreams can come true my friend.

paddan
Member
4 years 7 months ago

Could it be that the YM bid was too low and the rest of the story is YM spin doctoring? Possible? Maybe? Next.

Angelo V.
Member
4 years 7 months ago

That is possible.

Belfast_Saab
Member
4 years 7 months ago

My thoughts too

troy
Member
4 years 7 months ago
LV Saab
Member
4 years 7 months ago

When GM sold Saab to Spyker they held $335M in preferred stock. Under Swedish law, does the preferred stock become debt? This would make GM Saab’s largest creditor. If true, GM can block any deal without the licence adreements for the IT property.

David-SAAB
Member
4 years 7 months ago

Surely the bankruptcy took care of that liability?

LV Saab
Member
4 years 7 months ago

In some cases in the US it is like a bond holder. They have rights as a creditor, not a stock holder.

saab master tech
Member
4 years 7 months ago

Has anybody wondered if these guys incharge of the sale, for saab ,working and being paid off in some way for and by them f%^$#@#%^ GM ,just wondering ,we need to plan to go park all our saabs infront of the GM factory & stock exchange building doors & gates ,that may give them something to think about ,just my 2 cents .

viggen9
Member
4 years 7 months ago

From Swedish Newspaper (Dagens Nyheter), posted at 2012-02-02 19:09 Swedish time:
http://www.dn.se/ekonomi/sveriges-radio-bud-fran-youngman-kan-ge-saab-nytt-liv

Ronnie_Rad
Member
4 years 7 months ago

If you can’t see that something dodgey, fishy, or downright wrong is going on behind the scenes, then I must also question if your eyes are open.
We need to keep up the heat, put the pressure on them, and make sure they know the world is watching.

mnztr
Member
4 years 7 months ago

If GM permission is required then it is over. Why even waste the time of people wanting to bid? Youngman has been douped into investing millions of dollars in money and wasted effort. I hope they sue GM in a Chinese court and get awarded millions in damages. I am sure a Chinese court will not look very fondly on a US company refusing to license IP to a Chinese company… and GM has enough assets in China it would have to pay up!!!!

mnztr
Member
4 years 7 months ago

I just read that the museum is to be liquidated after all… is this true?

http://www.leftlanenews.com/saab-museum-heading-to-auction-after-all.html

shocking and disappointing.. maybe Sweden should also dump SAAB fighters and buy F-16’s…then they can sell IKEA to Walmart… ….

Red J
Member
4 years 7 months ago

No.
I think Leftlane are once again rewriting an article without knowing what they do.
Reading the “Detroit News” original, I get the impression that the writer wrote this article a couple of weeks ago, and it has been published now, without checking the current situation.

OLEH
Member
4 years 7 months ago

Seems that GM keeps their word about SAAB full liquidation. They are doing it slowly but surly. Now it is time to pray for SAAB Parts existence. Without parts, SAAB will not survive and will be a history very soon… Very sad, but not much we can do. We are many but not many enough to make a difference in this business game. We, unfortunately have been played. Trying to be optimistic, but today’s news kind of made my hope to dissolve…

OLEH
Member
4 years 7 months ago

And now there is one more “good” news about saab museum. So, someone decided to erase SAAB history from the beginning. Here you go, this is year 2012… Only one question left, how did they know?

saabman
Member
4 years 7 months ago
Dagens Nyheter is reporting that Youngman’s bid was for between 2.2 and 3.2 billion SEK. If this is true, it might explain why the receivers are cool to the offer. There is speculation that this amount is too little, since Saab Parts itself is deemed to be worth more than that. Seeing the time on this report, however, it seems to be prior to the news that the bid had been rejected. So, it’s hard to know what’s what. I honestly can’t understand why GM would be given a say in the sale, since as a bankrupt company GM should… Read more »
DUTCH900C
Member
4 years 7 months ago

I really hope it isn’t true, but i begin to think that GM has bribed the people who works out the bankruptcy of SAAB.

Nick
Member
4 years 7 months ago

Now we know what Mats Fägerhag will do! Sad to see no more cars will be made Trollhättan!

xelav
Member
4 years 7 months ago

What a rolercoaster of emotions in just 24h… Can i put à claim for emotional overload at THE receivers ? Strange behaviour. Backstabbing their own people.

Red J
Member
4 years 7 months ago

Now the dust has settled a little bid, and some sources at di.se say that the bid was just too low at 2.2 -3.2 billion crowns.

Nick
Member
4 years 7 months ago

Di.se also say that Geely is still the main contender! Not suprised Volvo/Geely has always been a favourite in Sweden. 🙁 I think the Geely track is a wrong turn and when Geely/China brakes they in THN will be the first to go.

Mark
Member
4 years 7 months ago

GM would not approve of Geely anyway.

OH
Member
4 years 7 months ago

“In parts” are SAAB worth nearly 4 billion. If the bid from YM is 2.5 to 3.3 billion, it’s no wonder that they not accept the offer. It now becomes a process, now that the administrators had named what the estate is worth. This is just the beginning of a negotiation, and only one part has made an offer what we know.

Troels, Denmark
Member
4 years 7 months ago

Why on earth are so many power and people hating and going against Saab ??? One begins to think that there might be (to) close relations between Volvo-people and Swedish politicians … (?)

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