Ms Olofsson has met with Mr Antonov

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While yesterday it was announced that Ms Olofsson was willing to meet with Mr Antonov. Today SvD Ms Olofsson announced that she and Mr Antonov met yesterday evening.

The Russian financier Vladimir Antonov met Maud Olofsson and set out why he wants to put money into Saab. The meeting took place on Tuesday evening at the department, five days after the government received his letter.

“It was a good meeting. Always good to see people that are so circumscribed,” said Olofsson.

But the rush is not on the government’s decision.

“We are waiting for GM and the EIB,” said Olofsson.

For the ones that prefer TTela.se the article is also available there.

37 thoughts on “Ms Olofsson has met with Mr Antonov”

  1. We´re all going crazy bout the talk of waiting for the EIB´s decision, when we think it would be easy for the swedish gov to say yes without waiting.
    I guess though that its more to this than is reveiled in articles.
    One thing is that the different govs around EU are not allowed to have any influence on EIB, as its supposed to be independent from the govs. Who actually appointed their officials.
    I guess that why they dont wanna tell before EIB comes with their verdict.
    Or?

  4. What I do not understand …. why should Mr Borg, the Swedish minister of finance, not push the EIB to approve an external investor that want to puts fresh money into a Swedish company, thus saving jobs in Sweden?

    This, I do not understand ….. they are not asking the EIB to provide for extra money apart from what had already been approved, aren’t they?

  5. I don’t understand what the EIB mens in his statement form the 17 May 2011 when they say, that there are not a liquidity provider and that the liquidity must come als from “other sources”. I understand i this statement, that EIB will accept this “other sources”…what are they waiting for????

    http://www.eib.org/projects/news/statement-regarding-saab1.htm?lang=-en

    Statement regarding Saab Date: 17 May 2011Since early 2010, the EIB has part-financed the research and development (R&D) programme at Saab. We are not a liquidity provider. Liquidity financing must come from the company’s cash flow, commercial banks or other sources. The reason for the EIB’s financing of the R&D programme is our concern for the thousands of jobs that Saab provides in Sweden. Indeed, Saab’s R&D programme also contributes to the future competitiveness of the company.

    This is why, when Saab has presented its different packages of liquidity measures, in order to solve the liquidity squeeze due to low sales of cars, the EIB actively engaged with the other three parties involved (Saab, the Swedish National Debt Office (NDO) and General Motors) to try to resolve the situation. We have invested more effort in Saab than we normally do regarding monitoring of R&D projects of this kind. As Saab’s short and medium term financing package is evolving, there has been a high number of changes proposed by Saab, which require concerted evaluation by the EIB and the other parties involved.

    The EIB is ready to do its part to facilitate a solution regarding the financing of Saab in line with its role as provider of financing of the R&D programme, while adhering to its established banking principles. It is not uncommon that changes in ownership occur in projects that we finance as the EIB provides long-term loans for investments in long-term projects. We have procedures in place for evaluating such changes in ownership. These procedures include an evaluation of prospective new owners and of how changes in ownership may affect the borrower’s business plan, economic plan, financial plan and the project which we are financing.

  6. My conclusion is, that the meeting of VA with Maud Olofsson, was a complete waste of his time.
    She is willing to hear him out, but not planning to move or even make the EIB act after their own words

    The reason for the EIB’s financing of the R&D programme is our concern for the thousands of jobs that Saab provides in Sweden

    • Not complete waste of time. VA shows that he is willing to go into this process with full transparency. This is quite in contrast with the Swedish government which seems to have a hidden agenda. This should be fodder for the Swedish opposition, could our Swedish friends explain why this is not causing much more waves in the Swedish politics?

  7. Facts are according to Reuters that GM has so far nly given a tentative approval of April 28 according to Reuters said: “Sweden’s Debt Office and former Saab owner General Motors (GM.N) both said they had approved the plan, though GM, which still has preference shares in Saab, said it wanted “certain specific actions” to be taken by the car maker.

    EIB has also sent a press release that the “EIB approval are delayed because of internal SAAB changes” (and ?GM ?, since GM is a shareholder in SAAB!), Another SAAB blame game?

    • Anything that keeps Saab on the Swedish radar is good right now, imho. If the Swedish government is really interested in the survival of Saab then they should play a much more active role. The hesitance of Mz Olofsson to meet with VA, not using their leverage with EIB and apparently not having any positive contact about Saab with the Chinese government doesn’t bode well for their goodwill. Let’s hope that I’m wrong and that some Swedish officials will start growing balls in the next couple of days/weeks.

  10. “It was a good meeting. Always good to see people that are so circumscribed,” said Olofsson.”

    For a moment I thought I read “circumcised“

  11. OK – I am going to look like the lunatic fringe, but here we go…

    I personally thinkg that the globe is being carved into two pieces. In one corner you have Europe, Middle East, South America, India and North America. The other would-be corner would be China, Russia, Pakistan and some of the Middle East (i.e. Iran). I have actually looked into this for about five years and I am convinced of it. If this is the case, I can see why the EIB would rather SAAB die than have a Chinese company get the technology. For it’s part, I think that China is dragging it’s feet to ensure that the best deal is made for China’s interest.

    Call me paranoid. I am used to it 🙂

    • But doesnt GM own alot of the rights to some of Saab’s technology? Surely they must have a say in the matter as well? The longer this whole “process” (I say “process” as there doesnt seem to be much of a defined process at this point it time) goes on the less likely we are to see the release of the 9-5SC nevermind the new 9-3. Olofsson seems to be blaming GM and the EIB, the EIB is more interested in bureaucracy and the people caught up in the middle of all of this are the thousands of people for whom Saab pays their mortgages. Just get on with it!!! This issue has done a huge amount of damage to Saab’s reputation and all of the hard work done by Saab over the last 15 months has, IMO, been frittered away. This cannot go on much longer….. 🙁

  12. I think that now time for patience is really over. This hidden agenda between GM (preferences shares to 320M$) and EIB-Sweden governement is insulting the million Saab drivers around the world who have paid (for their best pleasure of course) the right to drive their car!

    That said, whatever legal or private agreements that bound Saab to its old and new shareholders, financial, national or european institutions, we are allowed to protest against this hidden agenda.

    Time to go out to Save Our Saab. Time has hurt more than one could have imagined. Time is over. Time is now for going back to Save Saab convoys. Am I wrong?

    • Pardon me? Do you feel any of the right to drive your car was taken away? I drove my Saab today without feeling so (or knowing that my rights were limited – perhaps I am an outlaw now!)

      At any rate, GM seems a bit of a mouthwash for everybody here. The last time they were called for, they replied overnight. If GM was really a part of the process and an obstacle, I am sure the outspoken likes of VM, VA and Lars Carlstrom would have pointed that out.

      There is no hidden agenda, but there is a really open one on Saab’s part – they want you to buy Saabs, Saab parts and Saab accessories (they don’t seem to want you to buy Saab Expressions though, sadly). They also want you to go out and talk to people about how good their cars are and why is it worth to buy one, rather than focus on their financial and administrative issues.

      • Ok I am not an englishborn speaker, sorry for my language. I Was meaning that if things go on for one month, we won’t be able to buy any Saab in a close future. That’s it.

        As you seem to advice me to “buy Saab parts in Saab Garage, speak about Saab cars etc.”, you could have asked me before if I usually do so (I do). But that is not the point at all.

        “They also want you to go out and talk to people about how good their cars are and why is it worth to buy one, rather than focus on their financial and administrative issues.” ; “There is no hidden agenda” : obviously you missed some things that happened recently…

        Don’t want to argue anyway with you or anybody here, but just wished to tell that it IS time to go back to SSC, no matter Santa Claus says.

      • While the proverbial sword of Damocles hovers above SAAB’s head??? Good luck. Maybe the faithful are willing to fall upon the “sword”, but this issue needs to be settled before the” Average Joe “steps up to the plate.

        • you mean : no need to make noise about Saab’s situation is needed?
          Do you think then that “your” Average Joe is ignorant to that point? well, …

          In fact we all ignore who decides now for Saab ownership and upon which interests. Making noise will probably not give solutions but helps to give a political turn which is obviously requiered.

          • Yup, there is no need to make noise and make Saab feel like something that is being kept alive by public protests and so improbably to live on its own that it needs government’s help to survive. That would only prove to the public opinion the notion that “Saab builds cars nobody wants”. It would be a much better idea to get together with your local dealer and organize a “drive a Saab day”, getting as many potential customers as possible to experience Saab and the community spirit.

            If Saab had enough orders coming in, they could’ve just as well ignored the EIB, Maud Oloffson et al. This is the real problem, out in the open sticking out like a sore thumb. This is where Saab needs our help and support.

  14. Do you either think that people who buy a Saab do not read the news on the paper/web? Ha! This is just denying things. I just will not go on telling lies.

    • Guys, calm down.

      The lack of news is making us all feel antsy.

      At the moment, things are finally looking up. It has been said several times now that the production will resume tomorrow. Meanwhile, the plant in Mexico have already started producing the 9-4x.

      Although a little more support from the Swedish government would be nice. I find it strange they allow EIB to dick around. The government should not assert political pressure — true. But: The Swedish government will have to repay EIB if Saab falters. I still think it is a big concern that EIB can actively sabotage Saab and then expect the guarantor to fork out despite all. The guarantor should make it clear that such actions by EIB will have consequences. Even if the Swedish government will not lose on the loan itself (they have a legal claim to a big portion of Saab’s assets), they will lose when all those newly unemployed workers start collecting money from the government rather than pay taxes.

      But those worries seem to be largely behind us now. Now we need to look forward, and indeed: We need to buy more Saabs.

      • I think us, meanin enthusiasts, have already bought as many Saabs as we could. Both us and Saab themselves need to make others buy Saabs, or better yet – make more people Saab enthusiasts!

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