The entry of Vladimir Antonov at Saab is now at least a little closer. Although GM's approval is still tentative and the Swedish government is wisely holding back for tactical reasons, all in all it was one of the better days for Saab.
The approval of the EIB, the presumably highest hurdle is still missing, but if GM gives the green light, as well as the debt management and if the Swedish government acts smart, the hurdle should be taken.
What conditions must Antonov and / or Saab meet against GM?
GM's GM man James Cain backs up nicely with the conditions Antonov has to fulfill and refers to the confidentiality of the talks. A GM Insider is already clearer. In his opinion, there is only one reason why GM is talking to Saab and Antonov. General Motors sits on a completely useless mountain of non-voting Saab preference shares. These securities are completely worthless to GM as they do not affect Saab, nor do they yield any income since Saab has not made a profit since 2010.
The condition will be that Antonov frees GM of these papers for all time. Saab would really be completely free and GM would be just a customer, albeit a very significant one. Also, the Saab press officer Eric Geers did not want to say to the secret conditions, but said that these are not difficult to meet. The higher hurdle he sees at the EIB.
This has not been officially confirmed, the story seems logical to us. Something is moving - and it is moving in the right direction.
Text: admin / saabblog.net