This is an interesting one….
Bloomberg are reporting that Vladimir Antonov supplied the first $25 million of Spyker’s purchase money for the Saab purchase from General Motors. The funds were apparently supplied by Antonov’s Convers Group to Victor Muller’s company, Tenaci Capital.
The source for this – Antonov himself.
“The first installment was provided by our banks,” Antonov said today by telephone from Courchevel in the French Alps, where he is vacationing. “I can confirm that $25 million will be used for the acquisition costs.”
….Spyker has put $25 million into escrow with Detroit-based GM. Another $25 million is due on closing and the rest of the $74 million in cash is due July 15.
Before the Swedish press go and get their knickers in a twist, the source of funds is apparently known to all parties and has been given the all clear.
All major stakeholders, including GM and the Swedish government, are aware that Antonov is funding Spyker’s first payment, the investor said.
Why is this even a story, then?
The word out of Sweden a few weeks ago is that Sweden’s secret service did some digging and provided a report on Antonov that led to Spyker’s December 18 bid for Saab being torpedoed by GM at the request of the FBI. That report claimed some shady links to Antonov’s businesses.
As mentioned in the Bloomberg story and covered here at SU, Antonov recently penned an editorial in the New York Times claiming some nationalistic persecution and it’s reported he is taking steps to clear his name in the public eye.
Victor Muller supported his soon-to-be former partner by stating to the press that he would be welcome back as an investor in Saab Spyker NV once the time is right to do so.