Saab crisis: deceptive calm in Trollhättan
Sometimes it's good not to hear anything. After all, it's the bad news and the rumors that are spreading quickly. Even the Latins knew “fama volat”. Even if it is the day after Midsommar, in our case it is decidedly too quiet in Trollhättan.
A deceptive silence lies over Saab. The real estate sale is in dry towels, but only the part which seller Saab Automobile and buyer Hemfosa is concerned. What we already suspected, we know now. The approval of the EIB has so far. Hemfosa CEO Jens Engwall confirmed this to Gothenburg's post today. Whether the Swedish state has to give its blessing and whether GM is involved, that would be the next question. Two other actors must also agree.
Pang Da and Youngman Automobile need to be asked before the sale, because with the loss of real estate, the assets situation of Saab changes and existing contracts are affected.
A promise from the EIB is questionable. The € 29 million from the known loan that Saab pulled weeks ago is still missing. Whether the EIB releases collateral in the current situation is more than questionable. Every bank in the world would have problems with this in a similar situation and would only release collateral against the equivalent value “step by step”.
The schedule for the car maker from Trollhättan is very close in the new week. If you want to escape the threat of going to court, everything must fit.
Text: tom@saabblog.net