Current Saab situation: Radio Stockholm reports…

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!

Text: tom@saabblog.net

7 thoughts on "Current Saab situation: Radio Stockholm reports…"

  • .... shoot to the moon…. would be a really bad solution ... .. GM creates bankruptcy there too within a very short time; and then where do the saving money come from ?????

  • At the moment, the only thing left is that people are reminded of how amateurish GM has dealt with SAAB over the years - since the full takeover in 2000, GM has "driven the cart full in the mud"! Even the entire group with all its subsidiaries got into trouble - until ultimately (the smallest subsidiary SAAB had already been sold) everything collapsed and the American state came to the rescue with billions.

    What is particularly bad is that after the rescue of the group, the group leaders go back on course regardless of losses and show the same stupid and anti-social behavior as years before - how did SAAB actually deserve such a punishment in Sweden? That borders on human contempt and egoism of the worst kind - you should shoot the whole GM shop to the moon!

  • But the fact is, GM is now the problem for the 2nd time, at first they didn't want Antonov and now they don't want the Chinese - GM is definitely the obstacle that SAAB can bring down ... ..is like horse racing the longer The route becomes the harder the obstacles become even if they don't get higher, if you have a good horse you win, if you have a weak horse you fall on your face, let's see how strong SAAB is still and what the jockey can do the reserves to mobilize ......

  • ... so shortly before Christmas I find it particularly bad!
    What is there else to say ??
    Allen still a nice 2. Advent.

  • … Not me, that's the way it is in business, everyone tries to squeeze the last drop out of the lemon, sometimes until there's nothing left to squeeze. Unfortunately, the points of view are related.
    The Chinese want to buy, because they want the know-how and have money, GM does not agree because they do not want to sell their know-how to the Chinese and SAAB is said lemon between the fronts, without liquidity and Sustanz. That's it - and if there is a solution, both sides have to move, but I do not really want to believe that, they already had time enough for that.

    Now let's look at the situation the other way around, if the shaft is tight, GM will lose money (shares and license fees), the Chinese will also lose money (which they've already buttered in and won't get the technology) and the Swedish state will also lose money ( Collateral, unemployment benefits for 3000 workers, etc ...). So it's not a good deal for everyone involved. So it's not a satisfactory solution either - for anyone.

    There is really only one solution left over the participation structure. A possibility with 1000 ending variants. Personally, I would like something like a Chinese participation in GM, and a takeover of GM's from SWAN, with a right of first refusal for the Chinese. The Chinese take over the SAAB share package from GM and SWAN will be dissolved after the license periods have expired. Would be a nice solution. GM can silver-plate its worthless stock package and negotiate new license agreements, the Chinese get technology and SAAB for the Chinese market (where GM again earns money) and SWAN can be liquidated in peace, which is already the case anyway.

  • me too ... 🙁

  • Au cheek, I'm getting really worried ..... 🙁

Comments are closed.