Saab are down to two or three bidders

The following is a Google translation of an article appearing in TTELA, the local newspaper in Trollhattan.
My apologies for the slow posting, but I’m working on another open letter.
Saab Automobile sales process is entering the final stages. Only two or three buyers are still in the process. They have signed a so-called letter of intent and have now chosen to continue the negotiations, state administrator lawyer Guy Lofalk told TT.
A letter of intent is a letter of intent in which stakeholders have described the investments they’re willing to make and what they are willing to pay for the company.
All stands behind Saab’s business plan, “says Guy Lofalk. The business plan means that virtually all production moved back to Trollhättan.
From the beginning, the Saab that it was 27 stakeholders. A dozen of them have been on a visit in Trollhättan and have had a deeper presentation of the company.
In consultation with the owner of General Motors now has the remaining selected for further negotiations.
For various reasons, they have judged the strongest. These include to be strong financially and be long term, “he says. Those who now remain on the list have all described the commitments they’re willing to have against Saab.
Guy Lofalk is silent when it comes to who the remaining stakeholders are.
There are different nationalities, is the only thing he wants to say.
Speculation has been most focused on Chinese car company, including Geely, American capital companies and Swedish sports car manufacturer Koenigsegg, in cooperation with the Norwegian financiers. Italian Fiat have also said they want to have with Saab in a new biljätte.
TT: Is there an American interest among speculators?
I can not go into, “says Guy Lofalk.
The next step in negotiations is to write an agreement, a so-called memorandum of was breathing.
We aim to be clear that in early June with a party, “says Guy Lofalk.
Then both parties agree on all essential points.
It looks extremely positive out. I hope it keeps the whole thing, but nothing is settled until it is ready. When it looks as dark out, it suddenly brighten, and vice versa, “says Guy Lofalk clean.
In parallel with the sales process is ongoing Saab reorganization. It is already clear that to apply for an extension when the first deadline expires May 20.
These days, all creditors have a letter on Saab’s plans to apply for a piecework bargaining. To do so, 40 percent of creditors to endorse the proposal, which means that the debts written off by 75 percent in a so-called chord. The number of creditors is approximately 700 states Guy Lofalk.
The debts amount to around 10.6 billion kronor. The majority, around 9.6 billion, is required Saab GM.
According to the timetable, a chord hearing held in mid-June in Vänersborgs District Court.
The plan, we must keep, “says Guy Lofalk.
In order to cope with reconstruction presses Saab its costs on all fronts. 701 employees were terminated earlier this year by the staff of about 4 000.
We can not exclude more staff reductions, although it is not something that is relevant right now. The staff is a large part of the costs, “says Guy Lofalk.
The reorganization plan indicates that funding for Saab is one billion U.S. dollars, more than 7.5 billion. GM has promised to help with 400 one million U.S. dollars (about 3 billion) of which some are loans and some is the cost of tools to build the new Saab 9-5. The rest, 600 one million U.S. dollars (approximately SEK 4.5 billion), Saab hopes get through a loan from the European Investment Bank (EIB) in state guarantees.

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