Spyker-saab??

[F Spider]

80% plus

[IVR007]

Statement from Genii

Genii Capital concluded today that the timing of the bidding process for Saab is incompatible with implementing a solid business platform for the future

Luxembourg, January 25, 2010

Following a period of intensive study and evaluation, Genii Capital is now in a position to release its conclusions on the situation of Saab Automobile AB.

Saab is an exclusive brand with strong potential, based on the capabilities of a highly skilled workforce. This attracted Genii Capital to the opportunity to acquire a majority stake in Saab, based on implementing comprehensive, innovative industrial and financial foundations for the future in order to best meet the challenges the company will face in the future.

Genii Capital was brought into the year-long bidding process for Saab just three days before the closing deadline. During this year, Saab Automobile AB had been engaged in a partial shutdown process as a result of the length of the negotiations.

Genii Capital is in a position to move quickly and aggressively, but building solid partnerships for the long term demands both time and intensive work. Unfortunately, Genii Capital believes that the timing of the next stage of the shutdown process at Saab is not compatible with its requirements for putting in place a solid business platform for the future and closing the transaction.

Genii Capital would like to extend its thanks to: its partners for their enthusiastic, dynamic and sincere commitment; those parties, especially from Sweden, who aided us in understanding the situation of Saab Automobile AB; GM for its cooperation and concern for the successful future of Saab Automobile AB.

Genii Capital wishes Saab Automobile AB and its workforce a bright future and will continue to monitor with interest the company's situation

[IVR007]

Nice appearance of journalist Jort Kelder in 'de wereld draait door' on Dutch televison with lots of credits for Victor Muller's enterprise!

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Dutch billionaire Marcel Boekhoorn stated again that he is not involved in Spyker's bid

[Dutchdude]

Dutch billionaire Marcel Boekhoorn stated again that he is not involved in Spyker's bid

I'm also NOT involved

[IVR007]

I'm also NOT involved

Me neither
From Reuters
Spyker-Saab talks positive, could go either way

STOCKHOLM, Jan 26 (Reuters) - The chief executive of Dutch car maker Spyker (SPYKR.AS) said on Tuesday talks on its bid to purchase Swedish auto group Saab were proceeding well and negotiations could "go either way".
Shares in Spyker have skyrocketed on speculation it was close to clinching a deal to buy loss-making Saab from U.S. automaker General Motors [GM.UL].

"Negotiations are ongoing and the spirit is positive, but we are very, very tired," Spyker chief executive Victor Muller told Reuters while in Stockholm, where he is holding talks.

"It is such a complicated transaction. It's not for no reason it has taken so long. It is extremely technical," he said. "It can go either way, but you can rest assured we are doing everything to close the deal."

[IVR007]

GM Said to Be Close to Announcing Saab Sale to Spyker (Update3)

Jan. 26 (Bloomberg) -- General Motors Co. is close to announcing a deal to sell its Saab division to Spyker Cars NV, said two people familiar with the negotiations.

An announcement may be made as early as late afternoon in Sweden after an agreement is final, said they people, who asked not to be named before official news releases. Spyker shares were suspended in Amsterdam trading at 1:45 p.m. local time.

Spyker, led by Chief Executive Officer Victor Muller, agreed to pay $74 million in cash and $326 million in preferred shares in the company that would emerge from the deal, said one of the people. GM would get $100 million of Saab’s existing liquidity, the person said. A deal also hinges on Sweden agreeing to guarantee a 400 million-euro ($563 million) loan from the European Investment Bank for the Swedish carmaker, people familiar have said.

Saab is among four brands, along with Pontiac, Saturn and Hummer, that Detroit-based GM is unloading to focus on Chevrolet, Buick, GMC and Cadillac in the U.S. after its bankruptcy exit on July 10. A sale of Saab, which GM is in the process of winding down, may save many of the 3,500 jobs at Saab’s main factory in Trollhaettan in southwestern Sweden.

GM spokesman Tom Wilkinson declined to comment. Muller couldn’t immediately be reached for comment. Spyker spokesman Mike Stainton said negotiations with GM are still ongoing.

Other Saab bidders included Genii Capital, the private- equity firm that teamed up with Formula One tycoon Bernie Ecclestone; a group headed by former Swedish deputy Prime Minister Jan Nygren; and a Wyoming-based group led by Merbanco Inc. President Chris Johnston.

Koenigsegg Deal

Swedish sports-car maker Koenigsegg Group AB, backed by Beijing Automotive Industry Holding Co., walked away from a deal to buy Saab in November. Beijing Auto later paid $200 million to buy some car technology from Saab to use in its own vehicles.

European and Swedish authorities may take a week to approve a loan for Trollhaettan-based Saab after GM and Spyker agree on a deal, Johnny Kjellstroem, a Swedish official who is negotiating the case with the European Union’s regulatory arm, said yesterday in an interview.

Saab would face a tough future under the ownership of Spyker, according to Sergio Marchionne, chief executive officer of Fiat SpA and Chrysler Group LLC.

“I like the Saab brand,” Marchionne said at an event in Stockholm today. “I think it’s very difficult to be a niche player and profitable.”

Saab’s sales in the U.S. slumped 59 percent to 8,680 vehicles last year. European deliveries also fell 59 percent, to 26,567 cars. The compact 9-3 sedan makes up a majority of Saab’s sales. A redesigned 9-5 model is due to launch this year.

Liquidators

Saab CEO Jan-Aake Jonsson handed over power to liquidators on Jan. 12 and the board was disbanded. The Swedish Companies Registration Office has named GM nominees AlixPartners LLP Managing Director Stephen Taylor and Peter Toerngren of Swedish law firm Toerngren Magnell, to supervise the wind-down.

“Marginal players will continue to be marginalized,” Marchionne said. The CEO said last year that he was interested in buying Saab while Turin, Italy-based Fiat was bidding for GM’s Opel division. GM decided to keep Opel in November, backing out of an accord to sell it to a group led by Magna International Inc.

Saab, which traces its roots to aircraft company Svenska Aeroplan AB, was founded in 1937 to secure production of Swedish warplanes. The first car left the factory a decade later. GM bought half of Saab in 1990 and took full ownership in 2000.

Spyker shares last traded at 3.91 euros, valuing the company at 84.8 million euros. The stock is suspended until further notice and pending a press release, Dutch securities regulator AFM said in a statement on its Web site.

[IVR007]

A Press conference is expected to take place in 1,5 hour in Café Opera in Stockholm, Sweden. Don't know if there will be a live feed.

[Laviolette GT2R]

Rumours that the Saab - Spyker deal is concluded. Pressconference will be held at 19:15...

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according to quote saab 'contains' over 1.2 bn eu in assets

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RTL live feed

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IT'S OFFICIAL!!!!!

GM Reaches Agreement to Sell Saab to Spyker

2010-01-26

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."

[SpykerOwner]

How is that!

[Dutchdude]

Rumours that the Saab - Spyker deal is concluded. Pressconference will be held at 19:15...

Pressconference will be held at 20:15 (Dutch time) and you can see it live on RTL Nieuws.nl - De meest actuele nieuwssite van Nederland

[IVR007]

Here is a telephone conference, going on right now! Nyhetskanalen Live - Nyhetskanalen - Sveriges nyhetskanal på nätet - direktsända nyheter, nyhetsklipp och hela sändningar från TV4Nyheterna - tv4play.se