SvD & Di writes about Saab today

To conclude todays news from SvD (Svenska Dagbladet) and Di (Dagens Industri) in a nutshell:

– Pang Da and Youngman claims the have the right to be first in line to buy Saab at the latest November 15th.
– NDRC have appointed Pang Da and Youngman to be the ONLY companies that are allowed to negotiate with Saab.
– Last piece in this intricate puzzle is weather GM will approve a new owner constellation. GM will give their answer first when there is a prime candidate.
– Negotiations are on.

29 thoughts on “SvD & Di writes about Saab today”

  1. I am a bit worried; if the partners in this triplet can’t negotiate the deal in good faith, how are they supposed to rule a company together? But I’m still hoping for the best.

    It is interesting though that GM won’t say YES or NO until the deal is finalized. Is this a “hint” to PDaY that they shouldn’t expect to get the production rights of the 9-3, 9-5 and 9-4X if they are to become full owners of Saab?

  2. It’s like this site reported before, GM said no to this and that when in fact GM stayed totally silent during the whole first part of this fisco. They let it play out before they said a single word.

    What again is the source of GM saying they have to approve?

    This is a prime example of the old saw about “toss it at the wall and if it sticks, it sticks”.

  3. SAAB will NEVER have the production rights to the 9-4X, that was always supposed to be GM manufactured. I think GM will welcome more of those cars being exported to China as I don’t think the Caddy counterpart ( the SRX) has met sales expectations. So anything SAAB/Pang Da can do to move units will be helpful to GM. I think the 9-5 will remain exclusively THN manufactured and only Phoenix on might be made in China…

  4. …. about GM, don’t forget was written on this site a few months ago!
    SAAB is paying millions of US$ to GM to use their technologies (IP rights).
    So, if SAAB is sold, no problem…the new owner will have to go on payig for it for as long as he is going to use it , of course.
    If Saab goes bankrupt , GM will have a big hole in their pockets too.
    My 2 cents…GM has all interest in saying YES to anyone who wants to buy the brand!

    • I think the point here is that GM fears the Chinese competition. They´re very reluctant to loose control over technology IP to any Chinese party, basically. That´s why they – at early stages – ruled out the possibility for Geely or BAIC from buying Saab back in the spring of 2009. Remember, the two Chinese parties were amongst the 27(!) different groups interested in purchasing Saab back then. Then they singled out Renco, Merbanco – and Koenigsegg Group, who won the “beauty” contest.

      • So one would expect GM to say no, should, against all odds, Saab and the Chinese succeed in patching up their differences and close a deal after all? Or is there any other possible outcome as far as GM are concerned? Don’t forget they still hold almost 400 M USD worth of pref shares, even though without voting rights. These would have to be bought -or a deal made about them- as well if someone is to acquire Saab at all. Even non-voting shareholders can totally screw up a deal, all they have to do is go to the court and complain about damage to their interests to torpedo the whole shebang or at least tie it up for so long that Saab runs out of time.

        Ivo

        • This is a very good question. GM will be crucial if Swan and the Chinese agree a 100% change of ownership. I think the preferential shares will be secondary to any decision.

      • I also think that GM fears the Chinese competition more then the earnings of the IP rights.
        One can never know in advance, but time will tell how hard or easy it was for the Chinese to buy Saab Automobile.

      • Well if Vlad ditched that cheap wig he may not win a beauty contest but could get a date on his own. Yeah, I think guys look just stupid and silly who think that some hair dye or a rug will make them look handsome and young. I guess it’s just me but I took my slight balding and grey hair as just what it is; getting older and though not wiser I don’t have to worry about putting the top down. “Sir, I think your Poodle just jumped from the car” and “That was no Poodle, that was my hair”.

        Humor will see you through? 🙂

    • I think the Phoenix is GM IP free, or very limited. The 9-5 is loaded with GM IP, but I think the GM IP starts to diminish substantially. The electro hybrid AWD is SAAB…the diesel engines are GM, the tuning is SAAB.

    • Saab as a small niche manufacturer should buy the best part out of the General´s store. There is nu way in the world Saab can make all the parts by themselves. make more partnerships with GM. The sea is to big to sail by yourself without a big friend nearby.

  5. Well, they did, GM that is, until less than two years ago. And look what they did with it. I’ll take the Beemer Boys over GM any time. They have beancounters, too, of course, but they also still have passion. GM has only beancounters.

    Ivo

  6. This could be very interesting as it is rumored GM is now sitting on $40 Billion of cash! I know, how can it be? They only exited bankruptcy 2-1/2 years ago. But those who track these things are reporting GM has a HUGE stockpile of cash.

  7. GM and Ford had two thing in common. The cleaned house. Ford seems to have done a better job and that new CEO wanting to hear about problems and not have sunshine blown up his azz was impressive. They also sold Volvo even though they were selling like how many? Like about 5,000 units a month?

    GM was brand heavy and Saab was not the only nameplate to go., Heck, Pontiac was a major attraction as the true performance wing in the 1960’s (see the history of Royal Oak Pontiac), and poof, they are gone. Look at the number of European brands and the number of units you can sell so, why compete with yourself as Opel and Saab would essentially be.

  8. No, I do not believe GM will repurchase Saab to prolong the brand. In fact, quite the opposite is almost guaranteed if GM does decide to buy Saab again. Remember, VM had to beg GM to consider selling the brand in 2010 as they were in the process of shutting it down.

    The point of my post is that GM has a very large war chest with which to buy the brand again, although their motives will be far different than their 1999 full purchase of the company.

    1) – Buy Saab to protect GM’s Intellectual Property interests.

    2) – Buy Saab to gain a modern assembly plant, built to the GM template, at a rock bottom price. All of GM’s North American assembly plants are running at maximum speed (multiple shifts per day and 6 or 7 days per week) to meet the current reduced vehicle demand for GM’s products. GM is currently having Buicks built in Germany and shipping them across the Atlantic for sales in the US and Canada! Any increase in North American sales will leave GM scrambling for additional assembly capacity, and a new assembly plant has a $500 Million or higher price tag.

    GM may be able to protect their IP and gain addiitonal assembly capacity for a comparatively modest expenditure.

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