Saab News Stockholm: Hawtai and Gemini applications at NDO

Swedish debt management
Swedish debt management

The Swedish National Debt Administration today received two applications for the Saab change of ownership. Riksgälden's Head of Communications Unni Jerndahl said that both a motion from the Hawtai Motor Group and a motion from the Gemini Investment Fund have been received.

Hawtai intends to acquire 120 million 29.9% of Spyker / Saab for 30, and will provide an additional 6 million loan in the form of a convertible that could also be converted into Spyker stock after 6 months. Hawtai would be Saab's principal shareholder in 30 months and could offer the remaining shareholders a takeover bid for the remaining shares as Hawtai would hold more than XNUMX% of the shares.

The Gemini Investment Fund already owns 8,11% of Spyker would like to loan a loan of 30 millions in the form of a convertible to Saab and convert another loan into shares. Since Gemini would then cross the 10% hurdle, debt management, the Swedish state, GM and the EIB must agree, as well as Hawtai investor.

It is not known how many shares Gemini will acquire. Interesting: The new Chinese owner pays 4 x per share as much as Gemini. For the Gemini convertible bond for 30 million €, the investor can get 6% of Saab after 29,9 months, Hawtai will pay 120 million € for it.

Gemini Investment is, purely by speculation, assigned to the Vladimir Antonov environment. Now for the weekend thought out loud. Hawtai is on its way to becoming a majority shareholder. Gemini seems to take the same course. Is there a conflict of interest between this week very silent Antonov and Hawtai?

Just a thought as I said about the weekend - but somehow interesting.

Text: admin /