Vladimir Antonov Withdraws Proposal to Buy and Leaseback Saab Property

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The ink has barely dried on Saab’s latest attempt to form a preliminary deal with China’s Pang Da Automobile and Youngman, and the Swedish company is faced with yet another problem as Russian investor Vladimir Antonov has withdrawn his proposal to buy and leaseback Saab property.

"The property sale is now being discussed with external investors," said Lars Carlstrom, Antonov's representative in Sweden. However, Carlstrom noted that the Russian banker was still interested in becoming a shareholder in Saab’s parent company Spyker Cars NV.

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Post Title → Vladimir Antonov Withdraws Proposal to Buy and Leaseback Saab Property

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Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile

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Lately, it seems whenever there’s a problem with production at Saab’s Trollhattan plant, the Swedish automaker’s parent company Spyker Cars N.V. announces a new deal with a Chinese company.

Today, Spyker signed a non-binding memorandum of understanding (MOU) with two Chinese firms, Pang Da Automobile Trade Co., Ltd (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), which if approved by regulators, could see the company falling into the control of Chinese hands. We'll remind you that Saab had previously signed a deal Chinese firm Hawtai but it failed to go through Chinese regulators.

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Post Title → Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile

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Saab Temporarily Suspends Production Again while it Seeks Parts

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The on-off production drama over at Saab’s Trollhättan facility in Sweden continues as the troubled automaker said Wednesday that it temporarily halted production due to a lack of components from its suppliers only two weeks after resuming making cars following a seven-week shutdown.

Saab said that it anticipated production hiccups in the start-up phase, as the supply chain still is not fully operational with some suppliers holding back until they get paid and others trying to re-stock.

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Post Title → Saab Temporarily Suspends Production Again while it Seeks Parts

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Saab Eyes Another Chinese Savior, Signs MoU with Pang Da Automobile Trade Co.

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For the second time this month, and shortly after the break up in talks with the Hawtai Motor Group, Saab’s parent company Spyker Cars N.V. today announced that it has signed a Memorandum of Understanding (MoU) with a new Chinese company to provide fresh funds for the deeply troubled Swedish automaker. This time Spyker signed a tentative finance and import deal with Pang Da Automobile Trade Co., Ltd (Pang Da), said to be China’s largest publicly traded automobile distributor with over 1100 dealerships in the country. Read more »

Post Title → Saab Eyes Another Chinese Savior, Signs MoU with Pang Da Automobile Trade Co.

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Saab’s Deal with China’s Hawtai Motors Collapses, Future Once Again Uncertain

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Another day, another deal gone sour for Saab and its parent company Spyker Cars N.V. Today, less than two weeks after Saab announced an agreement with China’s Hawtai Motor Group that would have invested €150 million (US$215 million) into the company in exchange for a 30% stake, Spyker said that the deal has fallen through raising new doubts about the Swedish brand’s future.

“Since it became clear that Hawtai was not able to obtain all the necessary consents, the parties were forced to terminate the agreement with Saab Automobile and Spyker with immediate effect,” Spyker said in a statement.

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Post Title → Saab’s Deal with China’s Hawtai Motors Collapses, Future Once Again Uncertain

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Saab Boss Victor Muller Hints at US and EU Distribution of China's Hawtai Cars, Says Buyers Won’t Care about Safety

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The ink on the deal / partnership between Saab and China’s Hawtai Motor Group has barely dried, but the Swedish automaker's chairman and Spyker CEO, Victor Muller is already making headlines again by hinting at the distribution of cheap Chinese cars in the United States, Europe and elsewhere through Saab’s established global network.

"We laughed when the Japanese came. We laughed when the Koreans came. But we will not be laughing when the Chinese come. The Chinese are like a steamroller,” said Victor Muller, during a press event in Washington, D.C.

Muller said that if an agreement is reached with Hawtai, the Chinese maker could make use of Saab’s distribution network to sell its cars globally.

"It took 67 years to build up our dealer network. It is the biggest asset not on our asset sheet, and these guys buy into it for free. If they make the proper cars, can you image how much simpler it will be to push product through the distribution network that is already there? It is like a railway network that is already there," said Muller.

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Post Title → Saab Boss Victor Muller Hints at US and EU Distribution of China's Hawtai Cars, Says Buyers Won’t Care about Safety

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Saab Details Partnership with China’s Hawtai Motor Group

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In his attempt to save Saab- again, and after having secured short-term cash of €30 million (US$44.6 million), Spyker Car N.V. CEO Victor Muller’s next move was to sign a strategic partnership with China’s Hawtai Motor Group. Under the agreement, Saab will receive a €150 million (US$222.5 million) cash injection while the two companies will form joint ventures for manufacturing, technology and distribution.

As a part of the deal, China’s Hawtai will invest €120 million (US$178 million) for up to a maximum of a 29.9 percent equity stake in Spyker on a fully diluted basis. Τhe remaining €30 million will be in the form of a convertible loan agreement with a 6 month maturity, an interest rate of 7% per annum and a conversion price of €4.88 per share.

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Post Title → Saab Details Partnership with China’s Hawtai Motor Group

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Saab Announces Strategic Partnership with China’s Hawtai Motor Group, Secures New $30 Million Loan

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Spyker Cars NV and Saab president Victor Muller is pulling all the strings to kick start the Swedish automaker back into life after the company hit a cash crunch and was forced to halt production last month as suppliers refused to send parts citing lack of payment.

After an earlier announcement on the involvement of Russian banker Vladimir Antonov, who plans to invest €30 million in Saab’s parent company Spyker in return for a 29.9 percent stake, Muller hit twice today revealing that the company has secured a €30 million convertible loan from Gemini Investment Fund Ltd, while also announcing a new partnership with China’s relatively unknown, Hawtai Motor Group.

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Post Title → Saab Announces Strategic Partnership with China’s Hawtai Motor Group, Secures New $30 Million Loan

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Spyker Cars Says Saab won’t Meet its Sales Target this Year, Now Talking with Chinese Companies for Funding

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The roller coaster that is Saab has taken another turn, and unfortunately for the Swedish brand, the future doesn’t look so bright. In spite of a tentative agreement to let Russian banker Vladimir Antonov invest 30 million euros in Saab’s parent company Spyker in return for a 29.9 percent stake, the investment still needs to be approved by the European Investment Bank, which means the Swedes are still short on cash and cannot resume full production.

Today, Spyker reported a loss of €79 million before interest and tax for its first quarter earnings, while the company’s CEO, Victor Muller, said that Saab will not meet its sales target this year.

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Post Title → Spyker Cars Says Saab won’t Meet its Sales Target this Year, Now Talking with Chinese Companies for Funding

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Swedish Debt Office and GM Allow Antonov to Invest in Saab

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It appears that Saab's hopes of survival continue to depend after all that happened on Vladimir Antonov, the Russian banker who was forced by GM to sell his initial shares in Spyker for the Saab sale to occur. Spyker today confirmed that the Swedish National Debt Office (NDO) allowed Antonov to become a major shareholder in Spyker Cars, Saab's parent company.

"This is a great day for our company and for me personally. We worked relentlessly for 11 months to achieve the desired result: restore the reputation of Vladimir Antonov, who made so many valuable contributions to Spyker since 2007 as financier and shareholder,” said Victor Muller, CEO of Spyker and chairman of Saab Automobile.

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Post Title → Swedish Debt Office and GM Allow Antonov to Invest in Saab

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