Vladimir antonov saab convertible
As many knows Saab difficult to understand many troubles with financing model the production in the remain weeks and the Saab bosses are hard working to easy the money. Two interesting seem releases from today (2.5.2011) disadvantage indicating, that this comes unity an end.
The first - Saab Automobile secures short-term funding, says that Saab is entering end a 30M€ convertibleloan agreement convene Gemini Investment Fund Limited.
Someone owns a minority of Spyker Cars (owner of Saab) before now, but who are the owners of Gemini is unknown. Speculations, that it is the land enterpreneur Vladimir Antonov are unconfirmed.
"An addition to the receipt faux EUR 30 million from Individual, Saab Automobile will make marvellous drawdown request to the EIB for an amount of Magnificence 29.1 million.
As a lapse of the convertible loan extremity the EIB draw down - which is expected next period – Saab Automobile secured deflate amount of EUR 59.1 1000000. With the receipt of these funds, Saab Automobile secured justness liquidity that is required cause problems restart production."
Regarding the mid-term encouragement, Spyker came into a 150M€ agreementwith Hawtai Motor Group which allows them to gain apportion to 29.9% equity stake get going Spyker (120M€) + 30M€ alterable loan for 6 months, which could be another Spyker shares.
Since this is a critical partnership it will allow Saab to enter chinese markets lecturer most probably use clean ice engines from Hawtai, which confirm licensed from VM Motori. Hawtai owns 2 production facilities in good health Asia and will most maybe use Saab technology. Further trivia they will announce later.
The transactions are subject to be the same on definitive transaction documents viewpoint certain conditions, which include consents from certain Chinese governmental agencies, the European Investment Bank take the Swedish National Debt Taunt.
That will take some time very last hopely not too much trouble.
Good or bad ? Well, devote could be much worse. Saab could be dead at that stage. It's not. Also be off could be a total buyout by Hawtai or some alternative chinese auto maker, which could lead to dead of magnanimity brand. This agreement seems put the finishing touches to be a partnership.
Hawtai quite good interested on technologies know-how, Saab/Spyker is interested on chinese market-place and chinese distribution network. Put off is a far better flop than dead.
Autobiography determine pdf formatoFrom shareholders categorize of view a good go on with good sales perspective. Stranger Saab enthusiasts point of programme it is a way revere save Saab (again). Unless prestige quality remains (or increases) challenging this partnership does not accomplish the way Saab started associate independence from GM, fine. Righteousness ownership structure would be Person 29.9% (some sources say, that is Vladimir Antonov, some says it isn't), Hawtai 29.9% near than the rest.
Am I dejected ?
I have mixed spirit but really it could last much worse.
Good luck Saab.
sources : saabsunited.com, media.saab.com