Saab Forums
02-08-2010, 10:47 PM
Filed under: Saab (http://www.autoblog.com/category/saab/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/)
http://www.blogcdn.com/www.autoblog.com/media/2009/12/saab-badge.jpg (http://saabforum.org/saab-forum/dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/)
Spyker's deal to purchase General Motors' ailing Saab division (http://www.autoblog.com/2010/01/26/breaking-gm-reaches-agreement-to-saab-to-spyker/) out of the throes of insolvency appears to be moving along quite nicely. Production of vehicles is underway, a plan is in place (http://www.autoblog.com/2010/02/02/spyker-releases-more-details-on-saab-purchase-promises-new-9-3/) to launch critical new models and the European Union has approved (http://www.autoblog.com/2010/02/08/breaking-swedish-loan-guarantee-for-saab-reportedly-wins-eu-app/) of a European Investment Bank loan of 400 million-euros ($546 million) to Spyker.
It would seem that the road to a successful acquisition is so sure that the executive committee of Saab (http://www.autoblog.com/make/saab) dealers have made an unsolicited offer (http://dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/) of $24 million dollars to help Spyker complete the deal. Peter Hallberg, president of the association, said, "Those of us close to the business think that there's substance to Spyker's business plan for Saab, and that there are no great, imminent risks."
What's more, Spyker has just reported that it has entered into an agreement to secure a $25 million convertible loan from an investment company owned by Heerema Holding Company Inc. that's conditional on the EIB's aforementioned $546 million loan. Details can be found in the press release after the break.
[Source: New York Times (http://dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/), Spyker]Continue reading Report: Saab dealers stumping up $24M in unsolicited funds to make Spyker deal a reality (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/)
Report: Saab dealers stumping up $24M in unsolicited funds to make Spyker deal a reality (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/) originally appeared on Autoblog (http://www.autoblog.com) on Mon, 08 Feb 2010 18:01:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Permalink (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/) | Email this (http://www.autoblog.com/forward/19349306/) | Comments (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/#comments)
More... (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/)
http://www.blogcdn.com/www.autoblog.com/media/2009/12/saab-badge.jpg (http://saabforum.org/saab-forum/dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/)
Spyker's deal to purchase General Motors' ailing Saab division (http://www.autoblog.com/2010/01/26/breaking-gm-reaches-agreement-to-saab-to-spyker/) out of the throes of insolvency appears to be moving along quite nicely. Production of vehicles is underway, a plan is in place (http://www.autoblog.com/2010/02/02/spyker-releases-more-details-on-saab-purchase-promises-new-9-3/) to launch critical new models and the European Union has approved (http://www.autoblog.com/2010/02/08/breaking-swedish-loan-guarantee-for-saab-reportedly-wins-eu-app/) of a European Investment Bank loan of 400 million-euros ($546 million) to Spyker.
It would seem that the road to a successful acquisition is so sure that the executive committee of Saab (http://www.autoblog.com/make/saab) dealers have made an unsolicited offer (http://dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/) of $24 million dollars to help Spyker complete the deal. Peter Hallberg, president of the association, said, "Those of us close to the business think that there's substance to Spyker's business plan for Saab, and that there are no great, imminent risks."
What's more, Spyker has just reported that it has entered into an agreement to secure a $25 million convertible loan from an investment company owned by Heerema Holding Company Inc. that's conditional on the EIB's aforementioned $546 million loan. Details can be found in the press release after the break.
[Source: New York Times (http://dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/), Spyker]Continue reading Report: Saab dealers stumping up $24M in unsolicited funds to make Spyker deal a reality (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/)
Report: Saab dealers stumping up $24M in unsolicited funds to make Spyker deal a reality (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/) originally appeared on Autoblog (http://www.autoblog.com) on Mon, 08 Feb 2010 18:01:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Permalink (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/) | Email this (http://www.autoblog.com/forward/19349306/) | Comments (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/#comments)
More... (http://www.autoblog.com/2010/02/08/report-saab-dealers-stumping-up-24m-in-unsolicited-funds-to-ma/)