If we have learned one in the last few months, it is. Press reports should be left quite relaxed and under reserve. Because bad press is good for circulation and traffic. During the night, the message went around that the Youngman offer had been rejected. An assertion that is currently unconfirmed.
Youngman has, a few days ago, made an offer which unfortunately did not meet the hoped-for enthusiasm of the bankruptcy trustee. Depending on the source, there is talk of a purchase price between 250 and 350 million €. Which is considerably less than originally expected. Because it was the sum of 550 million € in the room, a slogan that Youngman has self-published. The bid amount is unconfirmed, therefore subject to be considered.
To get to the point. If this sum is confirmed, it will not be enough. The bankruptcy trustees want to achieve the maximum amount, if necessary by retail sale. Because buyers for operating parts, there are some.
BAIC is interested in the Saab e-Power concept. Together with partner Panasonic, they want to produce electric cars in Trollhättan. No Saabs, all that. There's the neighbor from Gothenburg. He wants to take over the development facilities in Trollhättan. There is the owner of the Gothenburg company. He wants to buy the Saab spare parts division. The list can be continued.
Youngman promises with his concept 1.000 jobs for the restart in Trollhättan. If we start from 3.500 employees, that's very little. I would say that too little is concerned with the proceeds of the sale, but secondly with jobs in the region as well. The question would be with what quantities Youngman expects his concept. There is currently no answer to that.
Back to the Youngman offer and the contract poker. Another uncertainty lies in Detroit. Although Youngman has emphasized that he can not produce GM, this does not seem to be certain, according to a friend from Sweden. The offer should include components that need the blessing of the Americans. The bankruptcy trustees have rightly set the requirements for the buyers quite high. Uncertainties and a disaster like Spyker should not exist for Saab in the future. One has the ambition to send carmakers to the safest possible future. Open flanks and unclear licensing rights are not acceptable. A good attitude that speaks for the clean work of the stewards.
The Chinese have placed a first offer. Talks with the administrators are ongoing. An offer has to be improved again and again. Because Mahindra & Mahindra is now approaching the submission of offers. The Indian concept must be better than Youngman's, the purchase price must be higher.
That's why investors from China keep their powder dry. Even if we want a quick end and a quick success. It's not over, it's just started.
Let's stay calm and wait.
I'm now starting my Turbo X. Driving Saab is fun. That's what matters…