Two suitors have already shown an interest in Saab to GM
26 November 2009

Two new potential buyers for Saab have already emerged just days after the collapse of the sale of the troubled car maker to the Koenigsegg group.

According to reports in the Swedish press, both Beijing Automotive (BAIC) and Wyoming-based merchant bank Merbanco are now seriously investigating buying up the ailing Swedish brand.

Both companies have previously shown interest in Saab; Merbanco was among the last three bidders this summer, when GM chose Koenigsegg.

Beijing Auto was a minority partner in the Koenigsegg bid and, as Autocar reported, it was keen to restart production of the outgoing 9-5 in China.

Christopher Johnson, owner of Merbanco, is self-confessed Saab enthusiast and his father, a partner in Merbanco, founded AGCO, which was involved in a number of company turnarounds, including Massey Ferguson.

Any BAIC bid could run into significant hurdles, according to other reports in the Swedish press.

The Götbergs Posten is claiming that the Koenigsegg bid collapsed partly because of worries about BAIC getting hold of GM’s technology. Saab’s revival centers on the launch of the new 9-5 range, which is based on GM’s latest Epsilon 2 platform.

It seems unlikely that GM would be willing to let BAIC take over Saab, particularly as it was concerns about technology transfer that helped scupper the deal to sell Vauxhall/Opel to Magna, which was backed by a Russian state bank.

But one positive for Saab appears to have come for the European Investment Bank, from which Saab is receiving a loan. The EIB has reportedly said any loan previously agreed with Saab can be transferred to its new owner.

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11

26 November 2009

[quote Autocar]The Götbergs Posten is claiming that the Koenigsegg bid collapsed partly because of worries about BAIC getting hold of GM’s technology[/quote]

so it was a re-run of the Opel/Magna deal and GM causing the breakdown, not the prospective buyer, as reported yesterday. so GM feels able to p*** off the Chinese as well as the Ruskies.

so much for hilton Holloway's and Greg Kable's blogs on this which fingered the breakdown on the buyer's side not GM's:

http://www.autocar.co.uk/blogs/autocarconfidential/archive/2009/11/24/saab-faces-oblivion.aspx

http://www.autocar.co.uk/blogs/anythinggoes/archive/2009/11/25/does-hyundai-hold-the-key-to-saab-s-future.aspx

'if GM was so against Opel going to Magna due to the Ruskies getting their hands on GM's world car platform tech what will they say to the Chinese getting the same through the Epsilon II(Insignia) based new 9-5? will it be double standards? after all, China is regarded as the US's banker. best not to flip the bird to your banker, unlike the disposable Ruskies.' - who wrote that?

26 November 2009

[quote kairoo][quote Autocar]The Götbergs Posten is claiming that the Koenigsegg bid collapsed partly because of worries about BAIC getting hold of GM’s technology[/quote][/quote]

PS it's 'Göteborgs Posten'

26 November 2009

[quote Autocar]According to reports in the Swedish press, both Beijing Automotive (BAIC) and Wyoming-based merchant bank Merbanco are now seriously investigating buying up the ailing Swedish carmaker.
[/quote]

I'll see your £50 bid and raise it to £75.

Where has all Japanese design went to?

26 November 2009

Good news!

26 November 2009

Who cares?

Crap cars. Another company that should have gone out of business years ago. Just like Vauxhall should and Rover did.

26 November 2009

[quote kairoo]

'if GM was so against Opel going to Magna due to the Ruskies getting their hands on GM's world car platform tech what will they say to the Chinese getting the same through the Epsilon II(Insignia) based new 9-5? will it be double standards? after all, China is regarded as the US's banker. best not to flip the bird to your banker, unlike the disposable Ruskies.' - who wrote that?

[/quote]

The difference is that GM canned the Magna deal because it didn't fancy competing with variants of its own cars wearing Opel badges in key emerging markets (consider that the company now sells more Buicks to the Chinese than it does to Americans), and the Koenigsegg bid fell through because it boiled down to a Swedish toff trying to do a De Lorean where the numbers didn't add up by even bigger amounts.

It wouldn't surprise me if the Chinese involved pushed ahead with the deal anyway, particularly as Hummer set a precedent by being the first big name sent east. If GM can give away the platform that was under America's #2 best selling vehicle, why not the Epsilon I/II? You said yourself, best not flip the bird to your banker, and in this case it's not as though the Chinese couldn't copy their CKD kits. They've done it with every other kind of tech on sale.

It's also not as though any deal for a GM brand cannot involve Chinese or Russian money. If they're going to be coy about the commies then every future sale is doomed too, no?

26 November 2009

[quote kairoo]'if GM was so against Opel going to Magna due to the Ruskies getting their hands on GM's world car platform tech what will they say to the Chinese getting the same through the Epsilon II(Insignia) based new 9-5? will it be double standards? after all, China is regarded as the US's banker. best not to flip the bird to your banker, unlike the disposable Ruskies.' - who wrote that?[/quote]

Cart, quoting your own posts now; you know the next step is talking to yourself.

Notiron is right about SAAB, they were a money losing prospect when GM bought 50% of the company in 1989, it took GM seven years to turn a profit, kill it GM and sell the logo to a canned ham company.


I think Vauxhall are still making cars last I checked.

You don’t need a weatherman
To know which way the wind blows
—Robert Allen Zimmerman

26 November 2009

[quote ThwartedEfforts]If they're going to be coy about the commies then every future sale is doomed too, no?
[/quote]

I don't know. but I'm sure when anything that involves GM is concerned a certain yappy mutt will no doubt tell us that GM is strictly on the level and it's all the fault of the nasty Germans, Swedes, Russians, Chinese...

26 November 2009

[quote kairoo]it's Yank holiday. no friends/family poodleman? GM your surrogate mate? - you're always blowing its kn*b[/quote]

Just had a wonderful dinner with friends and family, watched some American football and now checking out Autocar for a bit, as for GM, just offering facts and opinions from time to time. How about you mein freund; having a good day? ;)

You don’t need a weatherman
To know which way the wind blows
—Robert Allen Zimmerman

26 November 2009

[quote kairoo]I don't know. but I'm sure when anything that involves GM is concerned a certain yappy mutt will no doubt tell us that GM is strictly on the level and it's all the fault of the nasty Germans, Swedes, Russians, Chinese...[/quote]

Well that’s not true Cart, GM certainly has made many mistakes and some truly heinous cars as well, but if I see something that I think is not quite right or presented out of context I will comment on it and to your dismay from an American point of view. I mean GM did provide eighty years of employment to the German people through Opel, that’s not so bad is it?

I have nothing against our fellow inhabitants of this good earth, the Germans, Swedes, Russians, and Chinese, may they live long and prosper.

You don’t need a weatherman
To know which way the wind blows
—Robert Allen Zimmerman

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