Youngman Is Still Trying

Just came across an article posted on Di.se and TTELA stating that Youngman has today submitted another offer for all of Saab. What does all this mean? Your guess is as good as mine. It states that they have shown evidence that they have the money but is that the money to purchase only or is this showing they have the money to invest into a future for Saab as well? Who knows?
Di.se

Chinese Youngman has added a new bid for SaabChinese Youngman consider themselves not at all be looking out the game in terms of the sale of Saab’s bankruptcy estate. The company presented on Friday a new bid.

“Our revised bid this morning includes all parts of Saab’sbankruptcy estates, including spare parts company. And our offeralso means that the state and the auctions will be full compensation for the debt which is in bankruptcy, that is 2.2 billion. Youngman has also provided evidence the money available, “said attorney JohnNylén, a spokesman for Youngman in Sweden.

“Youngman has now accelerated the ambition tobuy Saab and start production as soon as possible. We have hadongoing contact with the administrators, but we hope to get into an intensive contract discussions now.”

Youngman’s lawyer also adds this in comments:

Nylén also tells TT that Youngman has received “acknowledgmentletter” from the Chinese “super ministry” NDRC.

This letter also means that Youngman is the only chinese company allowed to purchase Saab’s assets and that no other chinese citizen is allowed in any constellation to acquire Saab’s assets.

It would appear that the possible road blocks that have been present in the past with the NDRC are not there now. As with any stories coming out right now, I would strongly caution reading too much into anything right now as a lot of what is said to and in the media changes. It would be great to have a set deadline where after said point all offers that are to be looked at have to be in by and that this nonsense of the never ending back and forth is gone.

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zippy
Member

Trying. In every sense of the word.

saabserb
Member

It seems that the situation is not going in Youngman’s direction and they have started banging drums about that. All the information floating around with NEVS being a favorite and the latest statement from the Swedish government that they don’t really care if they get to run SAAB Parts triggered some action from Youngman’s team. Their statement that they were expecting to entering the final stage of negotiations, assuming that the rumors are true and that NEVS could sight the final contract any moment, shows that Youngman is really long back in the process. Also publishing the NDRC letter shows… Read more »

hughw
Member

Let’s simplify this. I don’t thing anyone, well perhaps M+M, can guarantee funds very far into the future.They’ll have to come up with the sale price, and perhaps have something in escrow for future operations. So what guarantees the administrators can get it probably nebulous. What’s real will be the cash up front. And if the cash up front is substantial, it kind of comes with its own guarantee that whoever put it up doesn’t want to waste it. So I see Youngman’s substantial bid (along with Saab parts) as a much bigger sign that they will stay in the… Read more »

Christof Rytz
Member

I also need a break from this SAAB-stuff. I do not think that this NEVS and Youngman thing (maybe Mahindra is still in the game) will come to a happy ending.

Turbo_Charged
Member

I really don’t understand why there is no formal announcement if Saab – or part thereof – has actually been sold. What’s the big deal? Is there an NDA because the Parts bit is still under negotiation or is it just embarrassment I wonder?

peeceepeh
Member

I’m not sure what Youngman is up to. Is it mere coincidence that they mention (they did not show it to the public, right?) this mysterious letter just after the (apparently wrong) message that SAAB’s about to be sold? It looks like they are trying to hold back the negotiations with NEVS. Why would they do that? What I can see is: SAAB would not be where it is now had Youngman provided half a year ago all the things they are promising now. There’s only one way I can make sense of this: Youngman succeeds in extending the negotiations… Read more »

Mark
Member

Or it could well be that YM realise that despite making 3 successively larger bids than anyone else they are being ignored by the receivers and SAAB assets are on the verge of being sold off and the company effectively broken up. Maybe since they are not getting the attention of the receivers they have decided to go public with a massive bid because they really want SAAB and want to continue the brand. Where were NEVS last year? – no where. YM pumped money into SAAB and lost it, I can see why they said no more when GM… Read more »

davidgmills
Member

Where’s the money? Does Youngman have it in a Swiss Bank account?

lundin
Member

yes with IBAN CH93 0076 2011 6238 5295 7 Just Say “All your saab base are belong to us” if you call the bank and they ask for the secret password. This is public information indeed. On a serious note, that very question should have been asked by the admins, did they do it? As per hinted by Nylen that dont seems to be the case. They (the admins) refuse to say just about anything which has now painted them into a corner IMHO. They have more or less “promised” a complete package sale and have had three to four… Read more »

adde
Member

I think they should go public with pictures of “acknowledgement letter” and evidence about existing money, where you can see money on account, date and name of the bank (if its a bank). Lots of mistrust has its roots in the past, and this would be nice way to put a stop for it and apply presure to certain points that need little presure.
Many comments i read on TTELA are based on peoples disliking of Saab cars, and now they fear that Youngman could actually succed to run factory.

hans h
Member

I almost bought a 1999 9-5 today.
But I had to admit that with two 9000, a 95V4 and an Opel Omega, I really don’t need more cars for the moment. 🙂

But it’ll come.

xelav
Member

Nobody wants to know where nevs money is? In the battery compartment from a transistor radio? Or under a solar cel? Man, so exited how this turns out. Monday pressconference , and this time real news please.

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