Latest: Antonov starting bank in Sweden

According to, Antonov is setting up business in Sweden. His Latvian bank Latvijas Krajbanka has already set up representation in Stockholm and are making plans for running a bank there.

Antonov comments that the process of investing money in Saab is ongoing. He and a partner are able to invest the 3.5 billion SEK “that are needed” (presumably in order to terminate the EIB loan and thus enable Saab even more freedom?). Finally, the plans for a Saab factory in Russia are not dead. However, the retail network in Russia needs to get organized first in order to determine what kind of sales volumes they are looking at.

20 thoughts on “Latest: Antonov starting bank in Sweden”

  1. This is not related to the above post…. but something to consider.

    Nils-Johan Andersson has left SAAB before he started working. He was supposed to be the new vice president of SAAB…. not a good sign IMHO.

    • When looking through tea leaves, you can spot almost anything.

      I see no reason to over-analyze singular events. It would be a story if half the top-brass of Saab suddenly evaporated, but so far their management structure has been remarkably stable!

      • It reminded me of F1 star designer Adrian Neweys defection from McLaren to Jaguar a few years ago. That ended with Newey back at McLaren and Jaguar surprised.
        Contracts being contracts, money being money and horseheads being in strange places 😉

        • pulling this one step further it would leave us at SU getting Swade back again….

          and that would be so strange now 🙂

  2. Factory in Russia is pointless. “Made in Sweden” is very important, especially when Trollhattan factory is not on limit.
    Fixing dealers is important… How long more shall we wait to be able to buy new SAABs? Saab was saved more than 1 year ago, One of the main persons is Russian and no dealers in Russia yet. Looks like sloppy work.
    I also hope Antonov understand well importance of F class and GL class cars for SAAB being premium. Since he is Russia I am sure ye does.

  3. Sorry! I somehow managed to miss that post… even if I thought I read everything this site has to offer 🙁

  4. This is one more sign of that Mr. Antonov is serious about his part in Saab. The other stake holders can’t just ignore him… Lets hope the process goes well…

  5. Start a Saab factory in Russia seems not be in line with select all production to Trollhätan. Is it high import tax in Russia?

  6. I think it’s a better start to sort out a sales organization in Russia, before flinging open a factory that, at the moment, clearly isn’t needed. Trollhattan seems to have PLENTY of capacity for the foreseeable future…

    Not to mention it’s a pain to run a business in Russia these days, while making sure the right pockets have enough Rubles in them…

  7. VA did an other interview today. Translation thanks to Google:

    Antonov Spyker shareholders will again be

    VILNIUS (Reuters) – Russian investor Vladimir Antonov plans to return as a shareholder of the Dutch Spyker Cars, the parent company Saab. Antonov aiming for a stake in the company of about 30 percent. This he said Thursday in Lithuania.

    “I think 29.9 percent is good enough, just as I had. I would totally satisfied with it”, said Antonov. The Russian was already a shareholder in the company of businessman Victor Muller, but the takeover of the Swedish Saab, General Motors (GM) in early 2010 he was bought out by Muller. GM did not want Antonov at sea due to his alleged involvement in serious crime.

    According to Antonov on his return was discussed with GM and he now speaks with the Swedish government. He wants the interest in new hands by buying shares at an issue and through existing pieces now. The Russian is expected within a few months about a decision.


    Muller said that he hopes Antonov succeeds in acquiring a stake in Spyker Cars. He said that Russia will do everything in the transaction to succeed, but that it is too early to comment on the structure of the agreement.

    Muller was announced in February, Spyker sports car to sell for up to 32 million euros Antonov. Muller wants to focus entirely on Saab.


    Antonov came earlier this month in collision with Muller. The Russian businessman said in a newspaper interview that he did not expect that Saab sales target for 2011 of 80,000 cars will fetch. Antonov expects a sale of up to 65,000 cars.

    Muller said those remarks,,”complete nonsense. The sales forecasts remain unchanged for Saab, said Muller

  8. Swedish business weekly Veckans Affärer have published an analysis on the potential for Saab stock at the Stockholm exchange. In brief, they don’t recommend anyone (except possibly die-hard Saab fanatics) to buy it if and when it becomes available, as Saab’s prospects seem bleak. As usual, the main concern seems to be the poor sales numbers.

    Not much of an analysis if you ask me – just the usual quick look at sales diagrammes for the last two or three years and a leap to conclusions from there. But this perception probably influences potential car buyers as well, and so it is not without relevance.

    • A pretty weak analysis indeed. Like higher sales would implicate profits. People seem to forget is that Saab is working hard to lower its break even point.

      Tomorrow Spyker will report its 2010 results, let’s wait and see…

  9. Vladimir Antonov is almost as relentless as Victor Muller. He confuses and somewhat worries me for no apparent reason. My question is WHY are Saab and more specifically, Victor Muller, so important to him? No idea, but he sure has his sites set.

  10. Off topic

    Always nice to see the K-guys doing their magic. And then take a good look at the last picture in the series! OMG!


  11. Maybe being Russian causes worry? Russo-Swedish relations have never been idyliic. I think I trust Vladimir, but still, 11 wars, Whisky on the Rocks (Soviet U137 sub – ), controversy over EU-Russian summit in Stockholm …
    Yet, he’s okay by me if he likes Saab. 🙂

Comments are closed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.