Morning Update – Work Continues

Yesterday we faced a real rollercoaster: from the report that Saab would file for bankrupcy to the notice that Youngman would send money to pay taxes and wages. I can assure you that Victor is devoting every minute of his time to work things out. It is not done yet, the most crucial thing right now is that the money Youngman promised to send arrives at Saabs accounts. But since Rache Pang was that close to the events I think she has understood that Thursday is a serious deadline.

ttela.se give us a short update on how things look now:

Saab CEO and Chairman Victor Muller was yesterday in Stockholm where he met with National Debt Office.

– They sit in meetings now, said Unni Jerndal, CIO at National Debt Office at half past six yesterday evening.

And at least work with the National Debt Office shall according to sources at TTELA have gone well. But a crucial question seems to be on Chinese Youngman deliver on their promises or not. TTELA wrote about the negotiations last week, which found a possible ownership solution that also included a large bank in China. Among other things, it is about placing the technology and the development of a separate company that is half-owned by Youngman. This arrangement would have a better chance of getting a hearing from the various parties to approve a deal. The aim is still to solve for the EIB loan in the long run.

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DI: Swedish Government is Willing to Help *UPDATE

UPDATE: We now know the lens for which to view this story. It’s clear they’re trying to set Saab up on a route independent from current management. Read Tim’s newer post about this.

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File this under the “I’ll believe it when I see it” category, but according to DI.se, the Swedish Government is working to solve Saab’s debt situation with the EIB. That’s according to their source,  Prime Minister Fredrik Reinfeldt’s former State Secretary Ulrika Schenström, now a consultant who’s working closely Saab administrator Guy Lofalk.

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Friday Morning Snippets: Let’s Get Rolling Already

Most of the news this morning provides a good wrap up of what’s going on with the various players who hold the keys to Saab restarting production. Click through for an article from Dagens Industri about the meeting with NDRC representatives, ttela’s impressions of what the NDO needs to move the deals forward, and optimistic yet still frank and nervous supplier talk. Finally a reminder of why we care so much about these cars in the first place, Swade does a great job updating us on what the Best of the Road contestants are up to. The 9-4X video is pretty fun.

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NDO: No Obstacles for Vladimir Antonov to Become Part Owner of Saab *Updated

The Swedish news service SVT (English Translation) says the the NDO sees no obstacle for Vladimir Antonov to become part of Saab.

After a review of Vladimir Antonov see Riksgälden no obstacle to the Russian businessman to become part owner of Saab. The experience report.

The conclusions of the Debt Office’s new review of Vladimir Antonov as a possible partner in Saab Automobile AB, will be presented at a press conference at 14:30 this afternoon.

Vladimir Antonov met on Tuesday Debt Office for a multi-hour meeting where the trader Antonov was questioned about his desire to become part owner of Saab.

At 14:30 CEST we will hear the original story. 🙂 This post will be updated to reflect the full statement from Bo Lundgren’s office.

At last, the first good news!

Thanks to WD78 for the hint.

Updates after the break.

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Meeting with Antonov Shows Progress

In a quick update from TTela, Bo Lundgren who runs the Debt Office said that his meeting with Vladimir Antonov went well, and that a decision should be reached within days.

The meeting of the National Debt Office and Vladimir Antonov is just finished.

According to sources TTELA the meeting have been completed with positive impressions.

“We have asked questions and we have received answers,” said Bo Lundgren at the Debt Office.

Today’s meeting focused on the ownership process.

“We have discussed the background and what Antonov’s ambitions are if he becomes an owner of Saab,” said Lundgren.

“Now we have had this meeting, though we wished to meet sooner. Next, we will sit down and evaluate what we take for their own decisions and also provide a support to the Government for their decision.”

According to the National Debt Office Bo Lundgren should hopefully be able to decide within days.

TTELA / TT

Keep in mind, we’re trying to report as much good news as possible, wherever we see it. These are not easy decisions to reach, though conceptually they might seem so. There are numerous details to be worked out, and any one of them can delay the process. We’ve seen this already many times in the last few weeks. Victor, Vladimir, and their teams are working feverishly on parallel tracks to ensure that production is started as soon as possible. Once the meeting is held tomorrow (in 11 hours or so) we’ll try to wrap up and report on what has been discussed, so we can continue to keep everyone in the loop. If there’s any more news tonight, we’ll update this post. Keep it nice in comments, everyone 😉

Saab will make it through this, and this meeting between Lundgren and Antonov reconfirms this. Patience is something the Saab community is short on, no wonder why we love turbos so much.

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