Yesterday and today I spent hours with Saab phone calls. What comes to us from Sweden does not really sound like we're going to get excited. The negotiating parties are facing a long weekend in Stockholm, time is short and the situation is acute. Now I try a balancing act, write what can be written and what is as little as possible speculative.
Let's try it ... very carefully! If someone thinks again that I write too “flowery”, like Dieter yesterday, then I have to protest. Dear Dieter, it is called “diplomatic”, not flowery. 😉
The Chinese delegation and the other parties have a lot to do and, as expected, will once again be a “last minute” thing. It is difficult to say what the ownership structure will ultimately look like. Actually impossible. I've heard too many possible configurations in the past 48 hours.
What is certain is that there will be no money for salaries and wages unless a viable solution is secure. This is not an official Saab statement now, the claim comes from me. The investors from China now want the solution, they do not want any further delay, which is also in the Saab sense. That's why they tighten the thumbscrews, even if it hurts. For me, the position is understandable and understandable.
GM does not want to accept a majority of Chinese. That's almost certain and the Saab proposal from last Friday seems to have found no acceptance in Detroit. What I can imagine would be a possible level solution. For a transitional period, as long as the licensed production runs, Saab remains majority in the hands of a third, non-Chinese company. Only after the completion of the production of licensed products, the majority goes into Chinese hands.
I deliberately do not name names of companies that could be involved in the short or long term. I've heard a lot of names in the last few days, some of it is complete nonsense, other wishful thinking or speculation.
There is the time factor. No wages, that's (almost) the end of the reconstruction. The reconstruction can only be canceled by Lofalk. But he will only pull the plug when success is no longer possible. The clock is ticking and the hammer could probably fall on Wednesday or Thursday next week. There won't be more time. Then there is literally a layer in the shaft and this time the lights go out for good.
If it comes shortly before Christmas to the worst, then I can no longer imagine a rescue. Actually, I thought that getting an investor out of bankruptcy was possible. A friend who reads and has talked to me today does not see it that way. Unfortunately he is right. Because under Victor Muller everything has been sold or pledged, which is of value. So what substance is left?
What we have left is hope that the negotiations in Stockholm will turn out well. The investors Pang Da and Youngman have invested a lot of money in Saab, so it is difficult to press the “exit” button now. A point for us and for Saab!
Let's not spoil the weekend. As always, we remain brave and strong! Let's wait and see what the next week brings!
Have a nice weekend to you all, wherever you are!