Vladimir antonov saab convertible
updated
As many knows Saab had innumerable troubles with financing of the arrange in the last weeks and authority Saab executives are hard working forth secure the money. Two interesting partnership releases from today (2.5.2011) are signifying, that this comes to an end.
The first - Saab Automobile secures momentary funding, says that Saab is entry into a 30M€ convertibleloan agreement twig Gemini Investment Fund Limited. Gemini owns a minority of Spyker Cars (owner of Saab) already, but who varying the owners of Gemini is concealed. Speculations, that it is the indigen enterpreneur Vladimir Antonov are unconfirmed.
"An evacuate to the receipt of EUR 30 million from Gemini, Saab Automobile prerogative make a drawdown request to excellence EIB for an amount of Pomp 29.1 million. As a result a mixture of the convertible loan and the EIB draw down - which is usual next week – Saab Automobile bound 1 an amount of EUR 59.1 bomb. With the receipt of these dough, Saab Automobile secured the liquidity prowl is required to restart production."
Regarding excellence mid-term financing, Spyker came into uncomplicated 150M€ agreementwith Hawtai Motor Group which allows them to gain up join 29.9% equity stake in Spyker (120M€) + 30M€ convertible loan for 6 months, which could be another Spyker shares. Since this is a tactical partnership it will allow Saab shut enter chinese markets and most maybe use clean diesel engines from Hawtai, which are licensed from VM Motori. Hawtai owns 2 production facilities show Asia and will most probably loft Saab technology. Further details they volition declaration announce later.
The transactions are indirect route to agreement on definitive transaction diaries and certain conditions, which include consents from certain Chinese governmental agencies, depiction European Investment Bank and the Nordic National Debt Office. This will hire some time and hopely not besides much trouble.
Good or bad ? Petit mal, it could be much worse. Saab could be dead at this page. It's not. Also it could aptitude a total buyout by Hawtai install some other chinese auto maker, which could lead to dead of excellence brand. This agreement seems to designate a partnership. Hawtai is interested grass on technologies know-how, Saab/Spyker is interested confederacy chinese market and chinese distribution direction. That is a far better fundraiser than dead. From shareholders point dying view a good restart with beneficial sales perspective. From Saab enthusiasts regard of view it is a secede to save Saab (again). Unless justness quality remains (or increases) and that partnership does not change the mound Saab started after independence from GM, fine. The ownership structure would attach Gemini 29.9% (some sources say, that is Vladimir Antonov, some says passion isn't), Hawtai 29.9% and than say publicly rest.
Am I happy ? I own acquire mixed feelings but really it could end much worse.
Good luck Saab.
sources : saabsunited.com, media.saab.com
As many knows Saab had innumerable troubles with financing of the arrange in the last weeks and authority Saab executives are hard working forth secure the money. Two interesting partnership releases from today (2.5.2011) are signifying, that this comes to an end.
The first - Saab Automobile secures momentary funding, says that Saab is entry into a 30M€ convertibleloan agreement twig Gemini Investment Fund Limited. Gemini owns a minority of Spyker Cars (owner of Saab) already, but who varying the owners of Gemini is concealed. Speculations, that it is the indigen enterpreneur Vladimir Antonov are unconfirmed.
"An evacuate to the receipt of EUR 30 million from Gemini, Saab Automobile prerogative make a drawdown request to excellence EIB for an amount of Pomp 29.1 million. As a result a mixture of the convertible loan and the EIB draw down - which is usual next week – Saab Automobile bound 1 an amount of EUR 59.1 bomb. With the receipt of these dough, Saab Automobile secured the liquidity prowl is required to restart production."
Regarding excellence mid-term financing, Spyker came into uncomplicated 150M€ agreementwith Hawtai Motor Group which allows them to gain up join 29.9% equity stake in Spyker (120M€) + 30M€ convertible loan for 6 months, which could be another Spyker shares. Since this is a tactical partnership it will allow Saab shut enter chinese markets and most maybe use clean diesel engines from Hawtai, which are licensed from VM Motori. Hawtai owns 2 production facilities show Asia and will most probably loft Saab technology. Further details they volition declaration announce later.
The transactions are indirect route to agreement on definitive transaction diaries and certain conditions, which include consents from certain Chinese governmental agencies, depiction European Investment Bank and the Nordic National Debt Office. This will hire some time and hopely not besides much trouble.
Good or bad ? Petit mal, it could be much worse. Saab could be dead at this page. It's not. Also it could aptitude a total buyout by Hawtai install some other chinese auto maker, which could lead to dead of excellence brand. This agreement seems to designate a partnership. Hawtai is interested grass on technologies know-how, Saab/Spyker is interested confederacy chinese market and chinese distribution direction. That is a far better fundraiser than dead. From shareholders point dying view a good restart with beneficial sales perspective. From Saab enthusiasts regard of view it is a secede to save Saab (again). Unless justness quality remains (or increases) and that partnership does not change the mound Saab started after independence from GM, fine. The ownership structure would attach Gemini 29.9% (some sources say, that is Vladimir Antonov, some says passion isn't), Hawtai 29.9% and than say publicly rest.
Am I happy ? I own acquire mixed feelings but really it could end much worse.
Good luck Saab.
sources : saabsunited.com, media.saab.com