I bet there are some nervous investors out there this week. Some from China, some from Sweden, some from the US. Some are carmakers, most are not.
TTELA reports that within the next week or so, Saab should have a fairly good idea who they’ll be working with.
The process has thus far included 27 enquiries and subsequent signatures of confidentiality agreements, followed by 10-12 visits and presentations in Trollhattan by the ones considered to be the best applicants by Deutsche Bank.
Now it’ll come down to one or two applicants in the immediate short term, according to our mate Magnus at TTELA.
Here’s the web translation of his most recent article, with subtle edits for readability:
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Visits in Trollhättan is completed.
In the coming week should be the stakeholders to submit their “bid” for Saab.
– The number should taper down to 1-2, says information director Eric Geer.
27 stakeholders signed a Saab confidentiality agreement. The ten hottest were invited to Trollhättan.
Spread over three weeks now Saab has had these ten stakeholders for a visit. They have had a deeper insight into the company, have seen the factory and have become acquainted with Saab’s new models.
So far, the process has mostly been concerned with Saab presenting the company and its business plan. Now the sales process into the next phase.
Now is the time for speculators to play their cards – to show how interested they are. Next week should be those who are seriously interested to come in with a letter of intent, a kind of intent on how they would steer Saab from the driver’s seat.
– We will meet next week and the aim is to taper it down so that we work on with 1-2 of them,” says Eric Geer, and continues…. We can also assume that these stakeholders would like to meet with the government and also that the government wants to know who we have for candidates.
The investors’ first thing to learn when talking with the Government are the conditions to obtain loans from the European Investment Bank (EIB). Industry Minister Maud Olofsson has previously promised to be available for such calls.
Eric Geer, was very pleased with the response given by the ten speculators who visited Trollhättan.
It has been very positive. There is no one who was not impressed. These stakeholders do not see the same thing as the media. They see a strong brand, which had an owner who lacked the right focus.
Saab’s future based on the business company. Where are the new 9-5, the new model variant 9-4X and little later also a new 9-3.
But a new owner may also wish to develop the business plan. Saab hope for more good “bids” to choose from, where the business plan takes Saab further.
It can, for example if they want to invest in a 9-1-model (there are stakeholders who mentioned the possibility) or invest more in Sweden. On the other hand, some may want to move everything from Trollhättan, which will not be as good.
A majority of stakeholders are financiers, that is, non-manufacturers.
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Thanks to Per for the heads-up!
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