An update from Sweden on Saab’s investors

I’ve just been chatting with a contact at Saab in Sweden and he’s provided me with the following information:

  • The investment process moves into a more intensive phase
  • Over 20 potential investors
  • Small number of auto companies interested but the majority are investment groups
  • Interest comes from Sweden, elsewhere in Europe, the US and Asia Pacific region
  • All have been vetted by Deutsche Bank and have the capability to become investors
  • All have signed confidentiality agreements and have been sent a ‘teaser brochure’
  • Some have moved into the next phase and have either visited Trollhättan already or have booked a visit in order to take part in more detailed discussions.

Note that Deutsche Bank are engaged by General Motors to find Saab’s buyer, which means that GM’s interests are paramount in this process, but also note that GM’s best interest is served by Saab surviving to engage in future contracts with them. It’s hopefully going to be a win-win.
I noted in comments as I was putting this together that there’s also coverage at Reuters and in the Swedish media (thanks ctm)
E24 report the following:

“There are now 27 interested parties to Saab Automobile. Yesterday, the first of them visited the Saab factory in Trollhättan.
– Interest has been growing. Saab has signed confidentiality agreements with 27 potential buyers. The interest from Wednesday’s visitors was very large, a source tells Dagens Industri.
One interested buyer per day are received by Saab, so the this period is expected to be rather long. First, the “heaviest” ones visit factories and meet with management, and yesterday’s secret visitor was one of the more serious buyers.
Saab is reported to first talk to those who have the greatest capacity, capital and skills to take over the auto company.”

And Reuters have this to say:

Loss-making General Motors unit Saab Automobile said on Thursday it had signed confidentiality agreements with 27 potential suitors in its efforts to find a new owner to help it survive the downturn.
Saab’s court-appointed administrator said earlier this month that about 20 potential buyers were looking at the company and that a deal was expected to be completed in June.
“It is of course positive that there has been this level of interest,” Saab spokeswoman Gunilla Gustavs said.
The Swedish carmaker had held meetings with representatives of potential buyers this week, she added.
“We are now in an intense and more organized phase of presenting the company to potential interested parties,” she said.

Thanks to ctm and Tompa/Moose in comments!

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