come on, somebody step-up.

[jonnie5]

Koenigsegg dramatically walked away from its proposed deal to buy Saab yesterday evening – leaving General Motors' Swedish outpost in a precarious position this morning. And the question on everyone's lips is, what's next for Saab?
http://www.carmagazine.co.uk/News/Se...egg-pulls-out/

[jonnie5]

Re: come on, somebody step-up.

Monday 30 November 2009
• Saab's future is likely to become clearer tomorrow when the GM board meets in Detroit. It will have to decide whether to seek a new buyer or put Saab into liquidation (Financial Times)
• Don't rule out an eastern bid for Saab: Beijing Automotive is still interested in buying the Swedish car maker despite its joint bid with Koenigsegg hitting the rocks, reports Automotive News. When asked of BAIC's chances, general manager Wang Dazong today told reporters 'stay tuned'

[Pshrynk]

Re: come on, somebody step-up.

Would be sad to see such an iconic and unique brand die.

[turbomeyers]

Re: come on, somebody step-up.

too bad i was hoping to see what koniggseegge would do with it

[Kor]

Re: come on, somebody step-up.

Fixing Saab is so easy, just go back to what made Saab successful in the past. Everyone loves hatchbacks. Everyone loves turbo engines. Everyone loves quirky interiors. Everyone loves adding new technology to cars. Recipe for success. Bring back the 900.

[Canadian Turbo]

Re: come on, somebody step-up.

Latest rumor is Spyker is interested now......

[bonfire]

Re: come on, somebody step-up.

Also get the quality back to pre-gm era. We had a 2000 93, and it was awesome, but at the recent auto show it was awful.

[Mister T]

Re: come on, somebody step-up.

While SAAB had some good technology and designs pre-GM, they just didn't have the resources to develop a fresh product line. The 900 platform was essentially unchanged from 81-94 and the 9000 platform (although receiving a mid model refreshment) spanned from 85-98. The real shame is that when they did finally get a parent company that could provide them with the necessary resources to keep a current product line, GM's bean counters neutered the brand in many respects. Hopefully an independent company like Spyker will step up to the plate and give SAAB it's own identity back.

[Canadian Turbo]

Re: come on, somebody step-up.

Saab has sold the production equipment for its old 9-5 models to Beijing Automotive Industry Holding Corp (BAIC), according to reports.

The report, in Sweden's Ny Teknik newspaper, said Saab had begun dismantling the production line for the old 9-5 in October as part of a plan to send the equipment to China and make way for its new 9-5 line, which is due to start production early next year.

Saab's parent company GM has previously been wary of selling off anything that hands over intellectual property rights, but it is possible it is willing to sell the 9-5 production equipment as it is substantially different from any other car it makes.

Although the 9-5 was based on the Vauxhall Vectra, Saab engineers said it actually shared only 35 per cent of its parts with the Vauxhall.

Saab refused to comment on the reports.

BAIC was part of the collapsed takeover talks for Saab led by Swedish luxury car maker Koenigsegg, and has been reported to be considering bidding alone.

Saab sources also insist that it has more than one serious bidder looking to make an offer for the company. The Swedes have until the end of December to find a new buyer for the company, or it will be wound up by General Motors.

[stefan]

Re: come on, somebody step-up.

http://news.bbc.co.uk/2/hi/business/8421007.stm

[bonfire]

Re: come on, somebody step-up.

Lame...

[stefan]

Re: come on, somebody step-up.

maybe one more chance?

http://news.bbc.co.uk/2/hi/business/8423363.stm

[stefan]

Re: come on, somebody step-up.

"Dutch sportscar maker Spyker is reported to be preparing a fresh bid for Saab before a deadline of 2200 GMT on Thursday."

[Canadian Turbo]

Re: come on, somebody step-up.

Even stranger....

Luxembourg, January 7, 2010

Genii Capital announced today that its interest in making an offer for the acquisition of a majority stake in Saab SAS in a partnership with Mr. Bernard Ecclestone.

Genii Capital - which has been brought into the bidding process at a late stage by advisors close to the deal - has decided that given an adequate and short timeframe for finalizing its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company.

The investment group which has diverse investments and a strong knowledge of the automotive industry believes that it can add value to the car manufacturer by working on synergies with some of its portfolio companies in the areas of energy efficient engines, OEM components and on-board IT and media technologies - including pay per listen/pay per use systems.

Genii Capital believes that the automotive industry will see - as expected - strong developments in energy efficiency, safety systems but also in the area of on board entertainment systems including technologies that enable use on demand systems as well as innovative communications platforms such as VOIP and GPS location based services. All of these areas being at the core of Genii Capital investment focus.

The group believes that SAAB has a tremendous brand value in a number of key automotive markets as well as an innovative image allowing it to be at the forefront of the car companies that will be first to market with some of the above mentioned technologies.

About Genii Capital

Genii Capital is a private investment firm that places common sense and business sense at the heart of the investment decision-making process while targeting solid performance. Genii Capital's investment philosophy is to create value by investing in ideas, brands and projects that are innovative and often disruptive to their business environment. Active in North America, Europe and Asia, Genii Capital's core investment target areas include brand management, emerging technologies (including public health, energy and environmental technologies), hospitality, entertainment and the automotive industry, including: Renault F1 Team; MOV'IT - a highly specialized high performance brake systems design and manufacturing company; and MCE-5 - a variable compression ratio engine technology.

[Canadian Turbo]

Re: come on, somebody step-up.

Well looks like a deal has been reached.....

DETROIT - General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

"Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM," said John Smith, GM vice president for corporate planning and alliances.

"General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome," Smith said.

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward. The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale will be disclosed in due time.

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank. Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

"Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand," added Nick Reilly, president, GM Europe. "We've worked with many parties over the past year, including governments and investors, and I'm very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward."