Saab sale: First hope and a timetable

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 !

Text: tom@saabblog.net

15 thoughts on "Saab sale: First hope and a timetable"

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    ouch, you have to “take a long time” to correctly interpret between the lines, even after pondering, there are two options left. Matti simplify the line between lines again ......

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    Hello!
    Who has carefully followed the blog and the structures of the individual companies aushakt ect.,
    will soon find out who the “Western European stranger” is. I've been here for a long time
    needs to come to that. “He” will not please many people because he has good technique
    offers, comes across as powerful and offers TOP quality. “Man” will stop with his
    born in front of the forehead and then no longer leaves
    burning a lot, unfortunately, also narrows the view of other things (manufacturer, idF).
    Do not take me out there. Reason VW, in the heart only SAAB! Golf V Diesel / Saab 9.3
    mvh Matti
    PS; I like the blog as well. (Tom, which direction do you take professionally?)

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    To pay the 50 attendees, the ANA administrators in Trollhättan have commissioned 47 to build half-finished 9-3 convertibles. So whoever wants to call one of these unique pieces his own should get in touch with ANA as soon as possible.

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    Unfortunately, dear Tom, I don't think at all that the administrators “are primarily concerned with the buyer's long-term perspective. Job security and staying power for rebuilding the brand ”is all about it.
    This is legally not necessary, as the administrators must reach the highest possible rate by law to satisfy the creditors. Imagine that the creditors are disadvantaged so that a preferred buyer by administrators has a better starting position.
    Unfortunately it will not be that easy for our Saabs. But hey hope does not look so bad

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    Unfortunately, again, nothing in terms of specific information about the bidders - on the other hand, some of you had opted for confidentiality during the negotiation phase.

    Addressed to Klaus 9-5 II Vector: There will be the great unknown. Inventing something here would be almost child's play - the trio of administrators would probably not play such games. Nevertheless, it would actually be advisable to come to a decision as soon as possible - dealers worldwide, future customers and the entire fan community have been kept in suspense for long enough. In addition, most of the released workers in Trollhättan are waiting for the redeeming news and the green light for reinstatement.

    Since I, like Tom, cannot imagine that Mahindra & Mahindra has submitted a bid only for the possibility of manufacturing electric vehicles, this financially strong group would be more suitable for the complete takeover (so far there is no internationally known one except Ssangyong Car brand).

    DR

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    Who the stranger is / are has been the overriding question for several weeks now. Even if you can hardly stand how it might end, I much prefer it, the unknowns remain unknown until there is something POSITIVE to report from their side. I am very confident and very excited ...

    Thank you, Tom, for the very good contributions. It's nice to tell people about your posts almost every day and tell them that SAAB is far from over ...

    ________________________________________________________________________
    The best thing about a working day is the way there and back in the SAAB 🙂

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    I think that there is no unknown bidder. Maybe that's just for sales logistics
    just to reassure people.
    That really does not penetrate anything, seems to me almost impossible.
    Nevertheless, I hope the best for our brand and its employees.

    Greetings to all Saab fans.

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    Joker?!? or ?? (Black) humor is welcome

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    The Western European bidder is….

    ... Victor Muller.

    😉

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    a little more conciliatory statements would be so welcome, we use the thermals and build on, I would like to know in broad terms what awaits us on the top hill, Youngman, Turks, Mahindra, then first unknown, second unknown, other free riders.

    Likewise, I would like to know where these unknowns are on the bid scale.

    Thank you very much

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    Since no details about the offer of this bidder have become known so far, it is realistically incomprehensible from my point of view that he “leads the race”. If there is a corresponding offer, maybe it is just a mere statement about it and thus a means to an end, the fog should clear in a timely manner.

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      Hello Studer,

      the message about this bid is not far behind - see the date here on the blog.

      There was also talk of the administrators sending positive signals about it ...

      The fact that Youngman-Lotus is now coming to the fore again, as already mentioned, is also interesting - but in no way satisfies my thirst for information about the said Western European bidder.

      Joachim

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        Hello Joachim,

        had followed that, but the statements on this were comparatively non-binding, if not nebulous. Reminds me a little of VM's various business game considerations ...

        gruß
        studer

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    Once again “re-drilled”: What does the trustworthy source say about the invisible investor from Western Europe? There are no more indications here - does this command really exist?

    I am a little irritated that the Youngman Lotus is now being brought to the fore again - for the last few days I had actually assumed that the Western European would lead the race ...

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