It’s been another heady day in Saabland.
Beijing bought some bits and people anxious as to exactly what they’ve acquired. My advice: Don’t sweat it.
The bottom line is that they did NOT buy the new 9-5, nor the latest Saab 9-3 gear. If Saab have been vague about the transaction, it’s probably for good reason (most likely to assist the buyer by focusing on the technology being bought, not the age or specifics of that technology).
This sale is pure gravy for Saab. The ballpark figure that’s been mentioned to me by Djup Strupe is
SEK3billion 1.4billion SEK (I make that out to be around US$197million), which is pretty good for equipment that would have just sat idle otherwise, as well as the ongoing expertise to make use of it.
To the people who put this deal together – kudos!
Meanwhile, we’re all getting a little anxious about the lack of information about the Spyker bid for Saab. Reports are that they’re still hard at work, with Bloomberg reporting key people are in Zurich dealing with Deutsche Bank about the sale.
Saab are issuing a giant No Comment on progress, and the same Bloomberg report gives you an idea as to why:
Spyker rose as much as 31 cents, or 17 percent, to 2.11 euros and traded at 2.05 euros as of 10:59 a.m. in Amsterdam. The stock has gained 32 percent since the super-car maker confirmed its interest in Saab.
The majority of Spyker stock is held in just a few hands, but it’s still a publicly traded company and statements about the progress of the deal could artificially inflate or deflate the stock price.
I imagine they’ll continue to play this very close to their chests. Godspeed to all of you.
So……Go ahead and tie that all up.
Saab have new models just waiting to be built. They have a very lean factory and a re-organised company. They have some of the best management in the business. And they’ve just had a major cash infusion and will likely develop an ongoing partnership based on the transaction.
All they need is the buyer. Bring it on!
A couple of photos for you…..
Another Saab 96 no-top, which looks like it might be undergoing some refurbishment. From the Saab Friends networking site.
And a Saab 900 convertible that looks like it’s in need of no refurbishment whatsoever. Deeeee-licious!
thanks to Robin M and Eric!