Saab News Stockholm: Hawtai and Gemini applications at NDO
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 / saabblog.net