The Saab sale is like a mosaic where pebbles come together for pebble things. Patience is needed for a mosaic, not just my strength. Had we not good friends in Sweden, we would stay in the dark. Some things have become more concrete during the day and for the first time there is a window of opportunity. The news comes from a trusted source that has accompanied us for months and is close to the Saab.
The bankruptcy trustees, as we know, have some offers and the trial process is currently starting. The administrators are primarily concerned with the long-term perspective of the buyer. Job security and staying power for the brand rebuilding are the top priority. Interesting is the amount of offers for Saab. So far, so one has let see, are all offers under the company liabilities. For the creditors not the best of all possible news. There will probably be a quota, liabilities will not be serviced at 100%. But better a good rate than a total loss. Besides, a healthy, new business is better as an end and the loss of all jobs.
Within the next three weeks, the administrators want to select the best bidder for Saab, followed by the final negotiations which could take another few weeks. A positive conclusion would therefore be possible until the end of March. Just in time for the anniversary of Victor Muller's morning cold that led Saab into bankruptcy. Hmm.
Youngman is still in the competition and the bankruptcy trustees examine how realistic the planned construction of the Saab 9-3 by the Chinese is. Today in the conference call, they were a bit covered. It was possible that both GM and BAIC could exert some influence, was heard. I mean, how do you check the situation?
A rough schedule is set and you are optimistic. Sufficient funds currently appear to be available to bring the process to a successful conclusion. Maybe you have to sell some assets that are not relevant to the future of the cult brand. Because in addition to around 50 lawyers, there are also a few hundred Saab employees on the payroll. this includes workers and administrative employees in the plant but also 50 engineers who were “temporarily stored” at Saab Parts AB. In addition, international structures that still exist. The bankruptcy trustees and the Saab employees have really done a great job here in recent weeks to protect structures and to preserve their future viability.
So far so good. There is a slight optimism that we all need. Because the thriller is nerve-wracking and the blog eats more time than is reasonable. A note on this. Some are waiting for answers from my side. The mails are coming, nobody is forgotten. But the desk in “Real Life” is full and that is what is going on.
Many a rumor was cashed in today. Volvo, for example, does not belong to the consortium that wants to build electric cars in the Saab factory. Dagens Industri once again made a mistake. Volvo still wants to take over technical facilities.
It remains as exciting as ever and the hope for a complete solution remains realistic. We stay tuned !