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Saab Partner Deal Crumbles
Posted on May 12th, 2011 No comments
Saab celebrated 25 years of drop top motoring yesterday, but today there isn’t much to celebrate as the Detroit news is reporting that talks to partner with Hawtai Motors has crumbled. The Chinese automaker wasn’t able to secure stakeholder concent to get a 29.9 percent stake in Saab in exchange for $172 million.
This is not good news, however it doesn’t necessarily spell the end of the long and dramatic saga of Saab. Hawtai and Saab are reportedly still trying to resurrect the deal and on top of that, Saab is supposedly in talks with the European Investment Bank for a $41 million loan drawdown. It already has a $48 million loan to sell new cars in the short term, but Saab is still looking for some long term security. Apparently they’re ven willing to strike a deal with shady Russian businessman and former Spyker Chairman Vladamir Antonov. In fact, Antonov was reportedly the reason why the original Saab-Spyker deal was stalled for so long last year.
In any event, should the Hawtai deal fail completely it seems like Saab has some plan B’s and even some plan C’s in order, so don’t worry too much Saab fans – yet. Besides, with Saab currently developing a new 9-3 and a Audi A1 fighter, it’s unlikely they would continue working on new product when the brand may not exist in the near future.
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Antonov Still Wants In on Saab-Spyker Deal
Posted on February 21st, 2010 No comments
The sale of Saab to Spyker has been officially been approved by GM thanks for Spyker following certain stipulations, some of which were a bit odd. Case in point, the reported request that chairman Vladamir Antonov be removed from Spyker.It was originally thought that this request was made so that GM technology wouldn’t fall into Russian hands, but the true nature of the request was due to Antonov’s alleged ties to the Russian mafia.
Antonov agreed to step down, but he is now speaking out as to the reasons surrounding his role in the deal. And he still wants to be a part of it.
Could this cause enough friction to make the deal fall apart?