Posted by: saabnuts | April 10, 2011

Saab News Update II

The First 2010 Saab 9-5

This is an update to my earlier rant posted this morning.

From SaabsUnited.com, April 10, 2011:

“A recap of events over the weekend:

  • According to Lars Carlstrom in an interview with TTELA (english version),”Yes, (the NDO) have given the green light to Vladimir Antonov can lend money, but he wants to come in as a shareholder. And it’ll continue to negotiate on this issue over the weekend.”  Vladimir Antonov himself and Victor Muller have been negotiating with representatives of government and Riskgälden since Friday.
  • According to Ola Kinnander at Bloomberg (a very trusted source of SU) , a source who didn’t wish to be identified since the talks are private indicated that the loan will come from Bankas Snoras in Lithuania (which is controlled by Vladimir Antonov). Lawyers are working on the loan deal today (Sunday April 10), which may be approved as early as tomorrow, two of Kinnander’s sources said.
  • Saab would likely borrow around 300 million kronor (€33.4 million) from Bankas Snoras, one of the people said, which will get production started ASAP. At the same time, Antonov and Spyker will wait for clearance to bring in Antonov from the EIB. Antonov is ready to invest at least €50 million in Saab, Lars Carlstrom said April 8, when he also said Antonov has agreed to cap his stake in Saab at 30 (29.9) percent.

All in all, it just shows Victor, Vladimir, and their team of lawyers and accounts will work all hours to make sure every paper is lined up and in order, even on the weekends. As hard as the production stop was on Saab in the media, it could have been a lot worse. In the United States, Japanese auto makers supply problems took center stage, and the biggest supply disruption– the US government’s near shutdown– kept the story pretty well hidden in the press. And while we all know that Saab is alive and kicking, for a lot of customers in the US and abroad, Saab hasn’t raised it’s profile enough to even realize that they were still in business in the first place. You don’t get too many second chances, but Saab has one and needs to get it right. Once the hiccups are solved, let’s hope they get a strong message out with the real facts. We’ll help as much as we can here.”

My sincere thanks go out to Jeff @ SaabsUnited for this updated information as well as to EVERYONE at Saabs United for the excellent information and updates they provide.

A few important points I’d like to repeat are that Mr. Antonov has been approved to participate in Saab and only his actual ownership remains to be approved by Swedish authorities.

I do hope that the Swedish government agencies are responsibly addressing the needs of Saab and the people of Trollhattan in a timely manner.

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