The Deal

Monday again, and finally we have something to report. Yesterday news broke that a new ownership structure has been reached to give Saab a lifeline. No real new facts in this post of mine, I’ll just add my few cents to what we now know. Things have turned out in a different way as I had expected a week ago to see NSC going for Saab, but then again Victor always has a trick up his sleeve. Still, the general plan to bring up a third party to cover the stake Pang Da and Youngman can’t get is there, just with slightly different players.

So let’s take a look at the basic info we got confirmed yesterday. Here’s the new ownership structure again:

SWAN: 50.1%
Chinese Bank: 29,9%
Youngman: 19,9%

First thing one would ask is where Pang Da has gone. I always emphasized that they a are a car distributor and their main goal always was to be exclusive distributor for Saab in China. That’s nothing you need a stake in Saab for, though it would give a distribution contract even more value. Besides that it has been reported a few weeks ago that they spent lots of money on supporting lease deals so there is quite a bit of work to be done at home for them. Could be another reason for them to step back and let the deal happen as the return for their investment, pre-paid cars, will come with that deal anyway.

Read moreThe Deal

Patience is a Virtue

The last few weeks have been incredibly trying for anyone with a soft spot for Saab. Tensions are at an all time high, and considering what a rollercoaster these last few months have been, I’d advise everyone to take a trip to their cardiologists once a plan is released. That plan is just about ready for it’s moment in the spotlight.

Read morePatience is a Virtue

Press Release: Saab GB Files For Administration

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that Saab Great Britain Ltd (Saab GB) filed for administration with the High Court in London today.

The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured. The appointment of the administrator is effected by the directors of Saab GB. Once appointed, the administrator will take on the management powers of the directors.

Swan received a conditional funding commitment from Youngman for the payment of the wages of the employees of Saab Automobile and for the continuation of the activities of Saab GB. Saab Automobile and Saab GB have not yet received this funding.

Read morePress Release: Saab GB Files For Administration

Dagens Nyheter on the new proposal from YMPD

Dagens Nyheter has posted a short article on what they think the new proposal from YMPD for GM is. As you can see, they are still trying to reach a 100% ownership of Saab, but now Youngman would be the minority owner.

I’m not sure if this will make GM move from the NO to a YES, but I also don’t think that YMPD has made this proposition without knowing GM’s real reasons for the NO.

We are now in a similar situation as in December 2009, we have a GM not willing to sell, and a new owner with very interesting plans for our beloved brand. I’m only hoping that this time the new owner really has the money needed to make Saab flourish.

Read moreDagens Nyheter on the new proposal from YMPD

Monday Again – Another Week of Negotiations

It’s a bit misleading that this post appears in the category “news”, it could well appear in “no news” as still we have nothing breaking to report. While this process of waiting is nerve wrecking for us it is also a good sign that all parties are focussed on getting a deal together. Indications we get from various sides also hint that things are moving, albeit slowly. The creditors meeting has been postponed so we don’t nessesarily expect big things to happen this week. We’d hope for it though, as for employees, dealers and the cash situation at Saab every day without a deal and production is a lost day.

Read moreMonday Again – Another Week of Negotiations

Ny Teknik on building Saabs without GM licenses

Ny Teknik have an interesting article on how Saab could produce cars without being bothered by GM:

GM can not stop Saab, or the person who buys the company from building a new generation cars. All the basic technology is controlled by Saab. Thus opens the way for Chinese Youngman and Pang Da.

The next generation of Saab cars are based on Phoenix, a kind of basic drawing and basic design that can be used for a number of new car models. It is controlled by Saab, unlike today’s cars, which GM owns a large part of the technology.

Read moreNy Teknik on building Saabs without GM licenses

Sales process snippets

TTela today features an interview with Anna Petre.

Two years ago, GM were skeptical towards Chinese ownership. Now there is going to be a negotiation that can go either way. I believe GM has good intentions for us, says Anna Petre.

Most urgent are guarantees for how the technology in the 9-3, 9-5 and 9-4x will be treated. GM owns the rights to those three models.

Read moreSales process snippets

Pang Qingnian: Captain of the coach

Muppen has found a very interesting video on the net. It is about Mr. Pang Qingnian, the head of the Youngman Group.

It is very interesting as it shows how he managed to evolve from building bicycle tyres to building 90% of all the luxury coaches that drive in China.

This video must be from 2009, or early 2010 and thus it is very interesting to hear at the end what are his plans for the Youngman car division.If this is what he pretends to do with a sub-brand based on Saab technology, then Saab has a bright future, as Saab will be able to deliver and so he will be able to pay the bills. 😉

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