SAAB News: Youngman wants a quick decision

The Youngman delegation meets in Sweden with the Saab administrators. In the wake are representatives of the Bank of China which can be seen as an indication that the financing of the Saab acquisition stands. Without a pledge from the Saab stewards, investors from China do not want to go home, Dagens Industri quotes a source familiar with the process.

Youngman has called for Saab as an initial bid the sum of 2 billion crowns, the investment in the company and the product range should be at 12 billion crowns. However, the first bid does not include the profitable parts of the automotive group, as it became known today. The Saab Parts AB from Nyköping serves the state as the largest creditor for the security of the relieved EIB loans. Therefore, the final bid for the complete package, Saab Automobile AB, Saab Tolls AB and Saab Parts AB will be much higher.

The sums presented by Youngman are considerable and, according to Saab insiders, at least financial prospects for the investor are good. With this budget, Saab could start into a secure future. The tasks for the restart are huge. The supplier network should know Youngman meanwhile exactly, but the dealer net is a nursing case which will require also large sums for the reconstruction. Add to that the national Saab companies that work well in Germany and Austria (as some Saab riders and readers could learn this week), but only through the enormous personal commitment of the staff. Again, a lot of money must be invested in personnel and rebuilding.

That Youngman wants to complete the sale as quickly as possible is understandable. It's not just about success, it's a question of the image. The Chinese have already invested several million euros in Saab and missed the entry several times. The bankruptcy trustees themselves will not care about the wishes. There will be intense talks with investors next week and at least three very interesting options seem to be emerging. Many buyers are a good starting point for Saab, but many options also require the sense and skill of lawyers to choose the best party.

We will know more next week.

For Saab fans who are looking for the ultimate, there is a Saab from prominent pre-owned in Upsalla. The Dutch "De Telegraaf" reports on Victor Muller's old Saab 9-5 that is for sale at the local dealer. The car is said to have been reduced from SEK 358.800 to SEK 328.800. At that time, Muller had taken over the first Saab 9-5 in the series trim after joining Saab with an audience. A friend said it was the most expensive Saab ever. If it really is this said 9-5, then it is cheap now. The collector's item for Muller fans.

Text: tom@saabblog.net

3 thoughts on "SAAB News: Youngman wants a quick decision"

  • It all sounds a bit like organized panic to me. I have the impression that Youngman did not expect so many and above all not so solvent competitors. You could have had all of this much faster and cheaper ...

    It will certainly also be about not losing face - after all, many millions have already been invested in SAAB, of which in all probability you will not see anything again if it fails.

    High Noon in Trollhättan, and no American far and wide ...

    • blank

      It is completely normal. This is about detailed discussions; the offer and the business plan are being scrutinized - by all bidders (finalists). The aim here is to verify the information and adjust the bidder's assessment.
      After this round, it should only go to renegotiations, contract and deal.
      Youngman could probably not believe the information from Saab management in 2011. The details of the license situation (PhoeniX is probably not clear) were just insecure. Better YM has now tested and knows the real value and ultimately writes off the investment made than to have taken over Saab in 2011 for a lot of money and then again invest a large box. One could prepare now.

  • blank

    It's probably about the detailed talks:
    - Financing guarantee
    - Operating concept / business plan
    - Resource requirements (employees)
    So what are the milestones and critical paths?

    Mahindra & Mahindra will also have the same discussions

    We arrived in the (before) last lap.

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