Saab News: Is the financing solution coming today?

Update 10: 22 / 11: 42

The situation at Saab is still serious and even yesterday there was no redeeming news in the half-year figures. Nevertheless, we and many other sources, such as the local newspaper in Trollhättan, think that today or tomorrow the expected news is coming.

There seems to be funding from a major European bank, which allows for the payment of suppliers and the start of production. Circles report that the funding is well advanced, although according to the current financial crisis one could be skeptical. If the financing comes, then it comes now very fast. Because the clock is ticking and 16.15 clock tomorrow is deadline. Then IF Metal could file for bankruptcy.

Victor Muller has negotiated with unions that are in very close contact with senior management. There will be no bankruptcy petition on Friday. Saab gets more time to get the bridge financing home.

Victor Muller would presumably make an application for reconstruction before filing for bankruptcy and thus flee under state protection. One of the worse solutions, because customers have been waiting for cars for a very long time - too long.

If you read the half-year figures, you come to a point that is strange. The Spyker sale to Antonov is still ongoing. It's about 30 millions of €, which would do well on the Saab account. At 25 February, the Memorandum of Understanding on Spyker's sale to Antonov's CCP Holding was agreed. Nothing has happened since then.

Why, that's the question. Frankly, the next 36 hours is everything. In every direction. Let us keep the peace and let's wait. As always.

Text: tom@saabblog.net

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conductive saab
conductive saab
12 years earlier

It's time for the solution to come. My nerves are now blank. Should I drive any Japanese in the future?

Leif

Julie
Julie
12 years earlier

Hello Leif!

We would not immediately know which make we could switch to in the "extreme case" - a huge problem for die-hard SAAB drivers!

Safety, beauty, performance and many other special SAAB benefits are not at least as unified in other brands as in ours
Favorite brand - in our opinion, only SUBARU would come close (but would also only be “2nd choice”).

Greetings from Schleswig-Holstein
Julie

martin saab
martin saab
12 years earlier
Reply to  Julie

Alfa possibly.
Strangely, many ssabisti also have Alfisti blood in them
Well, both “away from the crowd” ...

Marcus
Marcus
12 years earlier

the stock price is now clearly recovering from the published figures and is only just below yesterday's prices.
I'm sure we'll know more around this time tomorrow - the real solution, I hope!

Guy Schiltz
Guy Schiltz
12 years earlier

Hallo,
After reading the article on Reuters I am very skeptical about the financing.
http://www.reuters.com/article/2011/08/31/swedishautomobile-idUSLDE77U0R220110831

Wait and see what follows and hope ... ..or pray.
The clock is ticking.

Greetings from Luxembourg.

Guy Schiltz