Yesterday we wrote about the new Saab ownership structure. Besides the well-known investors Pang Da and Youngman there will be a third partner. This is to acquire 20% of the shares in the Saab Automobile AB.
This fulfills the NDRC requirement that 100% of the shares should be taken over by SWAN. GM should also be satisfied because Youngman is no longer a majority shareholder. Dagens Industri confirmed these plans today, referring to Volvo PV, which has a similar structure. Ford was satisfied with this construction and saw the intellectual rights granted.
The administrator, Guy Lofalk, is said to be in the USA after DI information, where a meeting with General Motors will take place. The next 48 hours will be about the fate of Saab. As decided in Detroit, I dare currently no prognosis.
Reason tells me that GM has to give the green light. Because Saab is an important OEM customer for Americans and long-term business is possible. Just the prospect of future profits should make the accountants in the house happy. In Detroit, the accountants and tax lawyers rule because GM is a tax avoidance company with an affiliated automobile. But does reason also rule in Detroit?
The Saab story contains far too much politics and different interests. The power games between Victor Muller and Guy Lofalk now seem to know a winner, the administrator. He is currently receiving high praise in Sweden for his intensive work for Saab and the creditors pay tribute to the lawyer.
Is he the right man for the delicate Saab mission? The answer to this question will come in the next few days. Let's wait.