Goodbye Youngman (again)

While we are waiting for a confirmation on a sale of Saab it is surely worth mentioning that Johan Nylèn, lawyer and spokesperson for Youngman in Sweden, told SVT-Västnytt that they did not have contact with the receivers for a while. Very interesting also that according to him the receivers did not even react on the recent, new, bid. I can imagine Youngman damaged their own credibility too much or they simply came too late.

So the plot thickens that the buyer will be NEVS – but there is still room for a surprising comeback of another party. We’ll see.

Jesse Crandle
Member

Is that a hint or a hope? Either way at least this most recent and wrenching chapter is nearing an end, onward and upward with the future!

Mark
Member

I’m hoping a white knight will swoop in and save Saab from the clutches of NEVS. A bit over twenty years ago a supposed white knight swooped in at the eleventh hour and saved Saab from the clutches of Fiat. However white knights aren’t always what they appear to be and that knight turned out to be a very dark shade of grey, if not totally black.

Here’s hoping that there is still a white knight out there for Saab?

SaabKen
Member

The dark knight that was FIAT would have been much better for SAAB than GM ….. the stupid overweight knight ……

Bravada from GMI
Member

Umm, not really…

Mark
Member

Yes GM was an even darker shade of grey.

Kinglake SAAB
Member

I think that Twenty year ago Knight…May have been Monty Python’s “Black Knight” 🙂

Mark
Member

Except GM was never really very funny. Laughable, but not funny.

xelav
Member

That’s why victor m was in Sweden …., or?

Bravada from GMI
Member

Well, the sale to NEVS seems a done deal… Did anybody from the SU team get hold of any of the NEVS guys to ask what they really plan to do? Is this a ploy to protect Volvo from any serious competition globally, or an actually sensible gambit by BAIC to leapfrog SAIC, Geely and the rest?

DUTCH900C
Member

The surprising comeback of a former owner does me think about the Wallenberg familiy. Am i right? Who else could be an surprising owner who cuold make a surprising comeback and wasn’t it so that their name for a few months ago was to see amd read here in a another topic?

leriksso
Member

Godbye Youngman = Goodbye SAAB …………………….sad but true
There never going to be a SAAB Car again.The sell to NEVS may not even cover the cost for the admins
And any work in Trollhättan we can now forgett exept battery production.
What about Saab Parts then ?
What about phoenix ?

For me NEVS not even intressted in making cars ..

phermansson
Member

But really, griffin up! Do you really think they pay a lot of money for a _car_ factory and a _car_ brand and then starts to produce batteries? That would be stupid to say the least…
We dont know what Nevs plans are, but I think we van be assured they have a plan with a decent chance to make profits. Again, something else had been really stupid. Investors dont work to loose money, they’re goal is to gain some cash…

kochje
Member

Phermansson; I fully agree with the way you see this.

leriksso
Member
Yes I guess so. If NEVS will produce cars, electric or biofuel or what ever, they need a spearpart organision and what I heard NEVS has no interest in SAAB PARTS. The admin goal is to gain cash…but if they have a bid on 4,0 Billion and take a bid on 1,5 Billion that must be a nail in the eye for the the former contractors to SAAB. The have clame as well and want there money.. I’m shoure no one , not even the admns know the plans from NEVS but as I heard so far I just think… Read more »
Belfast_Saab
Member

SU, this orchestrated is it/ isn’t it reporting is doing no one any good. The headline yesterday was unsubstantiated as is todays. Let’s just wait and see?

Jasper
Guest
Jasper

Absolutely correct.

Coke is it
Guest

I’m just curious of how many accounts registered on SU that belongs to the PR firm Springtime that does all the communication for NEVS… many positive comments about NEVS and many negative about YM… coincidence?

saabserb
Member

“Goodbye NEVS” title would make my day.

This morning, when I was reading news on TTELA about plans for battery production and production of electricity from “biomass” (whatever that is), staring to imagine the once upon the time proud SAAB workers assembling batteries and blending bio-trash, I felt really bad.

Once more: please anyone else then these people! Mahindra, I promise I will park a SsangYoung jeep next to my 9-5 if you Buy SAAB!

leriksso
Member

+1

saaburban
Member

NEVS will most likely collaborate with; Mahindra, Youngman or Baic once a deal is signed, where those companies take a part ownership or become a customer to the services that NEVS + Saab can offer. Right now everyone saves money by not bidding any further, and waiting for the deal between NEVS and the lawyers to be done.
As they say: this ain’t the beginning of the end – it’s the end of the beginning.

saabserb
Member

Which just confirms my theory of SAAB being supplier of batteries, hybrid platforms, production facilities etc but not cars! At least not in huge numbers.

And the latest plans of producing “biomass” energy instead of taking over SAAB parts just makes me cry!

FinnFemFel
Member
Time for a reality check… Yesterday, Swedish newspaper SvD talked to the head of The Swedish National Debt Office, and it’s not pretty… The state took Saab Parts AB and Saab Tools AB as securities when they in turn secured the EIB loan on 2.2 billion SEK. The state had to repay the loan to the EIB and now they want the taxpayers money back. Seems like Saab Parts AB is not at all worth any 2.2 billion SEK, but rather only 1.2 billion SEK. The reason seems to be disruptions during the bankruptcy and the bankruptcy of the US… Read more »
Mark
Member

Are we to read into this that YM originally made a $492M bid but the receivers had little or no contact with YM; and then a renewed $552M bid from YM was completely ignored?

Something is very odd in all this. If these YM bids are correct then I have to question the process the receivers followed. Perhaps there was always going to be the same winner in this, NEVS.
Something scared M&M off earlier as well and I am beginning to think I can see why they gave up.

It appears the only casualty is SAAB 🙁

DUTCH900C
Member

Youngman is from China, PingPong is from Cina
and Pingpong, Youngman is back:
http://ttela.se/ekonomi/saab/1.1656328-youngman-har-lagt-nytt-bud-pa-saab .
Please use a translationtool if you can’t read Swedish.

zippy
Member

The only problem with speculation is that it leads to even more speculation that could be damaging the brand even more. Could it be that NEVS is a ‘front man’ for BAIC? Ooops, some speculation on my part. 🙂

We just dont know what NEVS’s plan is for Saab so its probably best for us to just wait and see.

Mark
Member

“You say goodbye and I say hello…” The Beatles. Youngman is back again!

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