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Rumours that Americans on the way to save Saab


  

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Thursday, 04 August 2011
A major U.S. investor plans to become a part owner of Saab Automobile, which would provide opportunities to organize the plant. The Swedish daily, Dagens Industri reports on Thursday, quoting unnamed sources familiar with the Saab issues.

Reports hold that Saab hopes that the agreement must be finalized by the end of the week or within the weekend, according to the source.
Saab's CEO and Chairman Victor Muller has been to the U.S. for almost two weeks to chase capital. In that light, he has negotiated with several U.S. investors according to the paper.

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"I can confirm that Victor Muller is working hard to provide both long term and short-term capital to create a stable situation for Saab. More than that, I can not comment, "said Gunilla Gustavs of Saab's information department.

On Wednesday, it was known that the fund GEM Global Yield Fund, through a rights issue bought five million shares in Saab's owner company, Swedish Automobile. This means that Saab could expects to pay wages to its workers who had not been paid now for a while worth some Skr40 to Skr45 million before the end of the week.

The long-term investment from the American side would create opportunities to restart the plant, according to the source.
Saab's debts to subcontractors stand at some nearly Skr1billion and a large proportion of these must be paid to start the factory.
If this setup finally works, it could be a great thing for Saab which has been getting by through hand to mouth system for almost a year now.
By Scancomark.se Team


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