Saab crisis: deceptive calm in Trollhättan

Saab factory Trollhättan - shortly before sale?
Saab factory Trollhättan - shortly before sale?

Sometimes it's good not to hear anything. It's the bad news and the rumors that spread quickly. Even the Latins knew "fama volat". Even if it is the day after Midsommar, in our case it is definitely 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 commitment from the EIB is questionable. The € 29 million from the well-known loan that Saab called weeks ago is still missing. It is more than questionable whether the EIB will release collateral in the current situation. Any bank in the world would have problems with this in a similar situation and would only release collateral “step by step” against the corresponding value.

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