This one’s interesting.
A) It’s not normal behaviour for GM to put out an interim statement like this, and B) the fact that it mentions partial sales so distinctly tells me GM are willing to entertain the idea of selling Saab as something other than a going concern.
As we said last week, we have and continue to receive expressions of interest in Saab since negotiations concluded with Koenigsegg Group AB. These latest inquiries range from interest in part of Saab’s assets to interest in all of Saab’s assets. Since these discussions are confidential and ongoing, we will have no further comment unless or until a decision is reached and the parties are ready to announce.
The sale of old 9-3 and 9-5 technology shouldn’t have too much of a bearing on this. It’s already happened. This is a forward-looking statement saying they’re entertaining ideas for both the sale of Saab as a whole, or the sale of Saab in bits.
Personally speaking, that’s a worry.
It’s also a worry that they’re saying negotiations with Koenigsegg Group have ‘concluded’. The Koenigsegg Group are the party best placed to complete a transaction quickly. They would need some adjustments, of course, as their timetable and business plan had to be adjusted somewhat for all the unexpected delays, but I feel very confident that they would be ready to come to the table again.
GM saying those taks have concluded would seem to place Koenigsegg Group outside of the equation now.
Thanks to Thomas W for the tip.