Swedish Saab thriller: The doors close ...

Vladimir Antonov
Vladimir Antonov

Is it a thriller or a drama? What is happening in Sweden is currently without words. For Vladimir Antonov, all the doors seem to have closed. Final.

His spokesman Lars Carlstöm announced publicly today that Antonov's entry into Saab had failed. "In my opinion, the door for Antonov as a financier is now completely closed," he said to Dagens Industri.

It looks like the Swedish government and the Luxembourg EIB have decided against Antonov.

Why this decision was made is unclear, but readers on Saabblog.net can certainly think of the reasons. The last and only chance for our Russian Saab friend is now the final replacement of the Luxembourg EIB loan.

Antonov himself has, so I suspect, not so much cash to fish more than 200 million from the petty cash.

Last Exit: Our Chinese friends planning a meeting with Saab this week. The situation is burning, once again. Pang Da and Youngman as the last straw. Which is a very, very thick straw.

Swedish Automobile shares test lows again today. On the Amsterdam stock exchange, it was now quoted at € 1,37, now it's back at € 1.52. As wrote the reader “leifsaab”: brave brave who buys shares now. Yesterday I followed the discussion in Dutch investor forums. Opinions range from a total loss in mid-August, up to € 12.50 after the Chinese entered. So, please, only invest money that you can do without ... 😉

Because in Sweden the procedure of the trade unions follows again. The Union drums up the members and gets signatures for enforcement. Conveniently, you still have the not complete lists from last month. What could come is clear.

The Kronofogden is also putting pressure. As reported, there are 8 demands to be collected. The Kronofogden has now decided to take action. No wonder after the disaster of unpaid wages. The official must also be accountable for his decision. How does the old saying go? If something goes wrong - then right - or something.

Saab now gets mail from the enforcement officer again, then has 15 days to find a solution or pay. It is interesting that they are still in negotiations with Saab for companies that are carrying out the execution.

Okay, that was the business news from Sweden. And honestly, I can't hear it anymore. I want a solution to the problems - and please - quickly. Thank you.

Text: tom@saabblog.net

6 thoughts on "Swedish Saab thriller: The doors close ..."

  • Hi Cork,

    to put it simply. Antonov was under suspicion of money laundering for GM. With a very expensive and elaborate report by the American specialist Kroll Antonov tried to cleanse himself of it. The report was for a certain time on its website for download. Unfortunately, he has deleted this website. With his SNORAS bank, Antonov awarded a loan to a Russian company last year, which had previously crashed at all banks. Things did not go well, SNORAS had to go through a capital increase at the end of the year to get out of trouble. The Lithuanian National Bank accuses frivolous lending. These two things finally stopped Antonov. Whether the allegations are true or not, Antonov is out in the current situation.

    LG

    Tom Office Series

  • Antonov is still working on solutions. It is about the EIB loan which is to be replaced by a consortium of European banks, and it is about solving short-term problems. Well, Antonov isn't coming in right now - but he hasn't given up. Unfortunately there is nothing concrete, just a lot of rumors in my mailbox. So let's be patient 😉

    LG

    Tom Office Series

  • On Saabunited, Lars Carlström is credited with having Vladimir Antonov work on a solution to pay the outstanding salaries. Did I misunderstood something?

  • Does anyone actually have a more concrete idea _ why_ VA was / is repeatedly blocked by the various parties involved? To this day I am not really clear why it is always kept outside….?

  • Whether Saab survives depends only for months on the Chinese. These have now leaned out of the window so far that they can barely back.

    The takeover of Saab by a new “industrial” shareholder was actually no alternative in the medium term since the rescue by V.Muller.

    V. Muller has only been negotiating for months whether his investment (and that of his financiers) in Saab will be profitable. If Saab goes through bankruptcy, its shares are worthless, any loans risk a “haircut”.

    For some observers, bankruptcy with a fresh start would be a cleaner solution. As a Saab fan, the question arises whether total control of a Chinese investor without a European counterweight does not question the Saab DNA and the plant in Sweden in the short term. At the moment, Volvo seems to be more satisfied with the Chinese solution. But Saab is unfortunately much worse hit ...

  • That's what I call a good bet, when the Chinese board the course on 12.50 (if that's true) and if not everything is gone. I say, the chance of the Chinese getting a grant is 50% and the potential of 1.50 on 12.50 is 800%, so a clear buy, but to be correct, not with the money you need, because one 50% total loss is not a cardboard handle either. I definitely believe in Saab and have bought at 1.88 (so a while ago)

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