Reuters came up with that one today:
An agreement between Saab and Chinese car company Pangda for an investment in Saab is no longer valid after the Swedish car maker entered bankruptcy protection, the Pangda chairman said on Wednesday.
Pang Qinghua was speaking to reporters on the sidelines of an industry forum in Chengdu.
Pang added that the Chinese side has not yet submitted a proposal to the Chinese government regarding the Saab deal.
Instantly there was a comment on that by Gunilla Gustavs (ttela.se):
– We do not understand at all what this might involve. We have met Pang Da as late as yesterday, and everything is on track. There must be some misunderstanding. There is something not right here, says Ms Gustav at Saab’s information department said.
Honestly I think that quote without context or even a question he answered that to it says nothing. If he wanted to express that the agreement is no longer binding but they are still working on it (which they are obviously doing right now) this quote is just non-relevant. I know that every news service is jumping on that right now but I’d really ask you to keep calm and carry on until we get some more information.
According to the radio VM has just messed P4 Väst and says the same thing as Gustavs, it’s a misunderstanding.
…and with “messed” phermansson meant to say “texted” or “sent an sms” since VM certainly doesn’t need to get things more messed up right now 😉
Thankyou, svenglish that was. “Messa” is swedish slang for texted, so I messed up 🙂
I think it is in line with the quote yesterday from a senior bureaucrat from the NDRC.
Without context white walls may look black.
I don’t know what to think anymore…
We don’t have to think at all until we’ve got some official words from Saab / PangDa / Youngman…
+1
I think the guys in THN are now asked to give a nice dress to the fat lady.
I hate to say this, but this is very reminiscent of the Rover deal. They will be expecting SAAB to go bankrupt, and pick over what is left. I would love to be froven wrong, but never sure if you can trust the Chinnese
+1
If Phoenix, or at least some key components, are close to completion, then yes, it may have higher NPV to work over SAAB as a rotting corpse than to invest billions of SEK into an uncertain venture. All they need to do is do the math, which I’m sure they already did. The final outcome of this will reflect that math and that math alone; never forget that for Youngman/PaDang this nothing but business, and not a love affair like the one enthusiasts have over the brand.
To complete my comment: the bottom line is we all should just sit and wait. All of the rest is just noise.
To be honest who cares anymore. Its gone to long so at least I really dont care so much anymore. I see them as dead already. 🙁
How about a couple of thousand in Trollhättan and surrounding towns?
Not Dead KarlR, Sinking but the hand is still above the surface and it is reaching for a helping hand. THe main question is there a hand there to take it?
The Chinese are now standing by the side of pool with their arms folded, waiting for that last, big bubble.
If (and I’ll say that again.) IF it is true that all the documents have not been filed with the NRDC, it doesn’t matter if PangDa have cancelled the deal or not, the approval will not come in time to save the Re-Organistation & that I’m afraid, will be that.
This cannot be correct, can it? Bare in mind that Mr Pang himself wrote a letter of support for Saab that was filed in the second application for reconstruction (the one in the appeal court). If the agreement between Saab and Pang Da would have become invalid if a reconstruction was granted – why on earth would Mr Pang submit that letter in to the court? Doen´t make sense, not to me at least.
That is a valid remark Johan.
Totally agree with you Johan, this does not make sense.
Probably too many Kan beis at the forum in Chengdu.
Exactly.
All newspapers knows/must remember this.
Hope they will stop writing BS soon.
Maybe the deal is invalid but the commitment to Saab is not. Then this is about the chinese wanting a a bigger part of the company.
Yes my thoughts exactly. The thing about reorganisation is that it allows all parties to re-negoatiate – and let’s face it Saab is not in a strong bargaining position at the moment.
Smithy
In a way Saab does have an up-sclaed version of Spyker’s factory – they haven’t made a car for a while either… Either way I would not recommend Spyker as a model for any company as it has lost hand over fist for every year of its life.
I BY A SAAB CABRIO GRIFFIN IN APRIL,BUT I THINK WHAT MUST I DO? I AM DESPERATE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
i see only dark skys in the haven,here in belgium,nobody here can answer my question,not in SWEDEN,not in EUROPE!!!!!!!!!!!!! whats happend now??????????????
guy55,
the convertible season is almost over, if you have a car, wait till you see flowers once again on the fields, and if you don’t have your griffin by then, try a plan B.
Till then, wait and relax.
A good sign, from reuters
http://www.reuters.com/article/2011/10/12/saab-loan-idUKL5E7LC4ME20111012?type=companyNews