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 previous ownership in Upsalla. The Dutch “De Telegraaf” reports on Victor Muller's old Saab 9-5, which is for sale at the local dealer. The car is said to have been reduced from 358.800 crowns to 328.800 crowns. At the time, Muller had taken over the first Saab 9-5 in the series trim when he joined Saab. A friend said it was the most expensive Saab ever. If it is really this 9-5, then it is now cheap. The collector's item for Muller fans.