Capital investment firm says it offers Saab 'financial security'
14 January 2010

Genii Capital has improved its offer to buy Saab, saying it offers the financial security and longevity to transform the fortunes of the Swedish manufacturer.

The Luxembourg based firm, which has teamed up with F1 supremo Bernie Ecclestone, also revealed it expects a response on its offer from GM by the end of the week. It said it was "very optimistic" of success.

Lars Carlstrom, head of Genii Capital, said: “It will show GM that the Ecclestone group is capable of providing financial strength to Saab during a long period of time and also show that the group has the know-how and capability, within its network, to run a company like Saab.”

“Most important is that Genii-Ecclestone would like to provide information to GM that financing is not an issue for this group.”

Rival bids are also being analysed by GM, with front-runner Spyker also rumoured to be considering an improved bid.

James Buckfield

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14 January 2010

This is indeed a nasty cynical little game that GM are playing with the livelihoods of thee Saab workforce. If they really want to sell Saab off they should do it and stop wasting everyone’s time. On the other hand if they want to shut the factory and kill Saab off, they should get on with it. At least the poor buggers who work for Saab would know what the future holds and can then take whatever measures they need to take to enable themselves to get on with their lives. Personally, I would urge GM to sell and wish the buyers, whoever they are, every success.

14 January 2010

Hear hear. This is dragging on far too long.

14 January 2010

Indeed! there are plenty of improved bids going on but nothing much from GM! why dont they just make it known how much they want for Saab instead of offers not being enough etc! as for them not wanting to sell to anyone without the experience! what a pile of pants!

14 January 2010

News in from DI.se is that GENII has approached Renault for additional security. Thanks to the connections between Ecclestone and GENII's involvement in Renault's F1 team there is a chance Renault may be a resource for future SAAB architectures.

This isn't an isolated incident either. In 2005 GM held a press conference to stop further speculation that GM was going to sell SAAB to PSA/Nissan even though the French/Japanese tied-up admitted they would be interested.

Room at the inn: Naturally questions could be asked whether SAAB has a place in the PSA/NISSAN household. With Infinity also potentially stealing SAAB's thunder being Nissan's premium brand. However statistics prove that customers rarely cross-shop European and Eastern Premium brands. If you're a BMW guy you may buy Merc or a Jaaag but you're probably not going to be a Lexus or an Acura guy.

No buy out: Renault brings extra clout in confirming to GM that the GENII bid has long term stability which is very much a fear GM has with the bids they have so far. It doesn't mean huge amounts of investment from Renault, that's not their roll. That will be GENII and Ecclestone's job but renault is definitely looking for partnerships and although SAAB's 100,000 unit p.a. contributions may be small compared to renault's 2.5Million, growth potential is there.

Singing from the same hymn sheet: The synergies are good between the Two companies. There's obviously the Turbo engineering, there is also the crash protection too with both companies' vehicles achieving 5-Stars in NCAP tests. The Megane would make a great SAAB and to have a sub-compact SAAB riding on the Clio's fabulous architecture would certainly raise eyebrows at AUDI and MINI.

Beating the Germans: Bottom line; this is where it's at and the only people so far who can give a german brand a run for its money is another German brand. Jaguar makes a very good alternative but pretty much only in the UK. Lexus used to be outsold by SAAB in Europe and it will be years before the likes of Infinity and Acura establish themselves but will very rarely gain any conquest sales and will be seen as step-up brands for many who are already in tune with Japanese craftsmanship. For SAAB the mission won't be a walk in the park, far from it. If GENII win the day in the GM/SAAB sale there will be a very long road ahead before SAAB will be classed a true premium brand. It took VAG, 15 years to do it with AUDI and it's safe to add another 5 years to that in SAAB's case. Renault's architectures are solid and would be a great basis for a future SAAB. Given the similarities and the engineering capabilities, the Two companies could develop some formidable products together. Ultimately it will boil down to ride, aesthetics, and quality.

14 January 2010

This is getting a little ridiculous, GM need to make there minds up.

14 January 2010

[quote J400uk]

This is getting a little ridiculous, GM need to make there minds up.

[/quote]Agreed - if this does not result in a sale, GM will be ridiculed as there are at least 4 serious bidders at the table - they need to make their minds up - the deal with K'segg which they had been content with has been exceeded multiple times since before Christmas, and yet seemingly stll not enough???

SELL SAAB, GM.

14 January 2010

Nice one Bernie, get Saab, knock it into shape, look forward to 2015, then flog to an emerged Chinese manufacturer who is eyeing just how well Geely is doing with Volvo ... still a fate better than what GM (Gross Mismanagement) has achieved with the business these last years ...

15 January 2010

[quote WooDz]hanks to the connections between Ecclestone and GENII's involvement in Renault's F1 team there is a chance Renault may be a resource for future SAAB architectures.[/quote] This is a very interesting suggestion. If the new and apparently brilliant SAAB 9-5 platform was shared with Renaults larger cars and again a sharing of technologies from Infinity going SAABs way - that might be a tie in with a good future. As for Infinity and SAAB reaching for the same customers, surely Nissan and Renault already do that and it would also give Infinity an immediate dealer network that isn't already associated with the 'down market' Nissan or Renault

15 January 2010

[quote MattDoc30]would also give Infinity an immediate dealer network that isn't already associated with the 'down market' Nissan or Renault[/quote]

Agreed It would save Nissan a lot of money as they are trying to put Infinity in stand alone dealerships. A bit like Audi segregating themselves from VW/Skoda dealerships. I still maintain that a renault customer doesn't look to a japanese car as an alternative. More likely Peugeot or Citroen. Having Infinity and SAABs side by side in a dealership would not be seen as cannibalisation either. The brands would be distinctly different and appeal to one customer who prefers high-perfomance, high-reving and high-tech the other preferring more luxurious surroundings with the focus on Ecology, Safety and performance.

Wow I think this idea might actually have some legs....

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