March 19, 2010
Dutch billionaire could save Saab: report
Published: 25 Jan 10 08:53 CET
Updated: 25 Jan 10 12:59 CET
Online: http://www.thelocal.se/24568/20100125/
Dictionary tool Double click on a word to get a translation
Dutch billionaire businessman Marcel Boekhoorn has upped his investment in Saab suitor Spyker Cars of the Netherlands, trade union newspaper Dagens Arbete reports.
- Spyker boss to Sweden over Saab future (23 Jan 10)
- Ecclestone prepares new cash bid for Saab (18 Jan 10)
- Thousands of drivers in Saab support road rally (18 Jan 10)
With an investment portfolio ranging from Dutch free-sheet De Pers and daily newspaper De Telegraaf, to a wastewater treatment plant in China and a zoo in the Netherlands, Boekhoorn is one of the wealthiest investors in his home country.
News of a deal for the sale of Saab Automobile to Spyker Cars could come any day now, according to the CEO of the Dutch luxury automaker.
“Word will probably come tomorrow (Monday),” Spyker CEO Victor Muller told the Svenska Dagbladet (SvD) newspaper on Sunday.
Negotiations between Spyker and Saab owner General Motors (GM) are now in their final stages, with the Dutch company having offered about $500 million for Saab, its third bid for the Swedish automaker.
According to several media reports, Spyker has brought in additional financial backing. Sveriges Television (SVT) reports that the new financier has been approved by GM.
Earlier reports indicated that GM wasn’t satisfied with Spyker’s previous financing for the deal.
The local newspaper TTELA in Saab’s home base of Trollhättan in western Sweden, recently reported that an American investor purchased 5.5 million kronor ($758,000) worth of Spyker shares.
However, the entrance of an entirely new financial backer is seen as being more important than the stock purchase.
The Swedish government’s point-person for the sale of Saab, enterprise ministry state secretary Jöran Hägglund, is in contact with both parties in the negotiation’s final stretch.
He has let GM know that it’s “reasonable to assume that there can be a state guarantee” for the critical €400 million loan which Saab has sought from the European Investment Bank (EIB).
What do you think? Leave your comment below.
Fark It!
Digg This
Facebook
Share everywhere
Send to a friend
Printable version
Twitter This
Ikea and Google top student career wish list
Swedish students have named Google, Ikea and the foreign ministry as their dream places of work, according to a new survey. READ »
Skanska lands 'Ground Zero' rail contract
Swedish construction firm Skanska has secured a $434 million contract to help build the commuter train station at the site of the World Trade Centre in New York. READ (2 COMMENTS) »
Ikea offers repose in Paris metro marketing campaign
Swedish furniture chain Ikea has adopted an unorthodox method to get its products into the mind's eye of discerning Parisians - by lining metro station platforms with living room furniture. READ (2 COMMENTS) »
Swedish house prices top two million barrier
The price of the average Swedish house has passed the two million kronor ($300,000) mark for the first time, new statistics show. READ (1 COMMENT) »
Stockholm restaurant secures second Michelin star
Stockholm restaurant Frantzén/Lindeberg has been awarded a precious second Guide Michelin star just two years after serving its first meal. READ »
Carnegie traders charged over price fixing
Three former traders at Carnegie have been charged with illegal price manipulation carried out in the years before the Swedish investment bank's forced nationalization. READ »
King's pal seeks bumper payout for country estate
Torgils Bonde, a member of Sweden's high society, has raised eyebrows by putting his 2,800 hectare property up for sale for close to a record sum of 200 million kronor ($28.3 million). READ (3 COMMENTS) »
Riksbank off base with finance crunch rate hikes
The Swedish Riksbank has concluded that while everyone failed to see the impending finance crunch, it's own board was furthest behind when it raised interest rates just weeks before the Lehman Brothers bankruptcy. READ (5 COMMENTS) »
Vattenfall sells German power grid
Swedish energy firm Vattenfall announced the sale on Friday of its German power grid to Belgium's Elia and Australian investment fund IFM for $1.1 billion. READ (1 COMMENT) »
Bildt: Icesave deal key to Iceland IMF money
Sweden's Carl Bildt joined a chorus of Nordic foreign ministers on Thursday calling on Iceland to reach a banking payback deal with Britain and The Netherlands, warning that IMF aid money depended on it. READ (13 COMMENTS) »
- 11/03 Inflation rate doubles in February (1 comment) »
- 10/03 Voddler signs deal with Warner Bros. (4 comments) »
- 10/03 Geely secures Volvo purchase finance (13 comments) »
- 09/03 Reinfeldt: 'Iceland must honour its commitments' (24 comments) »
- 09/03 Borg: No cash for euro currency fund (3 comments) »
- 08/03 Bankruptcies continue to decline (1 comment) »
- 08/03 Svanberg claims millions in holiday pay out (6 comments) »
- 05/03 Investor buys big in defence concern Saab (1 comment) »
- 05/03 Stockholm institute honours Michael J Fox (6 comments) »
- 04/03 Saab's Russian backer seeks clean slate (5 comments) »
Ryanair – when the going gets tough, will the tough get going? »
"Like all empires, Ryanair's will come to an end, but like a old punch drunk prize-fighter, will they see the upper cut before it is too late?" READ »
- 05/2 16:37 Stockholm garbage collectors – an overpaid relic of a bygone age?There is a school of economic thought that opposes the CBA because it creates an insider-outsider workforce, raising wages for those with an over-protected job and levels of unemployment for those without. It is just one side of the argument and there are strong ones available to counter it, but a clearer example of the validity of this thesis is surely hard to find. READ »
- 27/1 11:02 Saab’s last chance saloonI sincerely hope that Spyker/Saab can prove the army of doubters wrong and become a winning combination. But if not then at least the interim period can be used to ensure that the Swedish automotive industry can prepare for life after if this newest dawn proves fleeting. READ »
| 19/03 | SENIOR SUPPLY CHAIN DEVELOPER Michael Page |
Göteborg |
| 19/03 | MICHAEL PAGE RECRUITMENT CONSULTANT Michael Page |
Stockholm |
| 19/03 | Analog ASIC designer, Bang & Olufsen ICEpower a/s, Kgs. Lyngby. Bang & Olufsen a/s |
Lyngby |
| 18/03 | SENIOR INTERNAL AUDITOR Michael Page |
Södertälje |
| 18/03 | Teaching Fellow - Business & Entrepreneurship Meltwater Entrepreneurial School of Technology |
Stockholm |
| 18/03 | FINANCIAL CONTROLLER Michael Page |
Stockholm |
| 18/03 | ANALYST/FUND OF FUND - PRIVATE EQUITY Michael Page |
Genève |
| 18/03 | Record to Report Accountant to Barcelona Brightpoint Sweden AB |
Göteborg |
| 18/03 | Ericsson R & D - SW designers with a passion for mobile phone applications Ericsson AB |
Göteborg |
| 18/03 | ACCOUNTANT (14 MONTH) (M/F) Page Personnel |
Stockholm |
- 18/03 Israeli drugmaker Teva buys Ratiopharm »
- 18/03 Siemens plans 4,200 job cuts worldwide »
- 17/03 BMW looks forward to strong profits »
- 17/03 Porsche sheds debt but expects yearly loss »
- 17/03 Siemens to cut 1,000 jobs in spin-off »
- 16/03 Electricity prices to rise for every fifth household »
- 16/03 Deutsche's Ackermann pockets €10 mln for 2009 »
- 15/03 France attacks hefty German trade surplus »
- 15/03 Deutsche Telekom introduces quota for women executives »
- 15/03 German arms exports double in five years »
- 16/03 Room Wanted
- 16/03 A friend
- 16/03 A responsible couple seeks for appartment
- 16/03 housekeeper
- 16/03 Do not miss "WISDOM IN SMILE" and "SMALL MIRACLES"
- 16/03 Lost Necklace, please help!
- 08:59 VAT Refund Question? Very Important
- 08:57 Shortening to make white frosting
- 08:52 Raw milk in Stockholm
- 08:37 Ryan air busses to Skavsta
- 08:23 Changing surname of a Swedish Child
- 08:19 Yet another Freedom of expression thread
- 08:09 Evap milk, buttermilk
- 08:09 Decision to Move to Sweden
- 08:07 Riskkurs ett course in English (Hazard Training 1)
- 08:04 Moving to Uppsala from the U.K
Therapy in English
David Schultz PsyD
Individuals & couples
In Stockholm in person or by phone or video conferencing
www.anxiousorblue.se
Kick-off the new football season with LFC, Stockholm's premier English-speaking football club.
MORE INFO
The Local seeks a digital advertising specialist to administer advertising operations for our network of sites
FULL JOB DETAILS
Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
The Local is seeking a talented media sales professional to drive our online advertising sales
FULL JOB DETAILS
Then you'll find The Local's new Stockholm Section useful. Find pics, guides, news and lots of useful information about Stockholm.
www.thelocal.se/stockholm
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
A perfect location both for business and pleasure. Centrally located, with atmosphere.
www.adlon.se
Visit Stockholm's beautiful archipelago. Great boat tours for all preferences.
MORE INFORMATION
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
monday will be a good day if this comes off today, i am so glad for the saab workers in sweden and abroad. They deserve good news and i am sure that the company, whatever they caal it will prosper in 2010.
I hope the investment works out and that he gets good return on his investment.
Anyone can make up anything, and everyone will report it. There are nine million 'sources' in Sweden, and not a single journalist who ever questions the validity of their claims. The SVT usually being one of the foremost gossip-spreaders, all while they are proclaiming their role as the biggest spreader of 'quality reporting.'
Remeber when a tiny Swedish middle-of-nowhere country paper claimed world-exclusive breaking news on Fidel Castro's death... The news spread like wild-fire through the Swedish media? Of course it was preposterous. But just too juicy a piece of unfounded gossip not to spread.
Well, the GM SAAB deal has been such a juicy story, SVT just cannot not take a lead on reporting one unfounded piece of gossip after another. Thanks for the cheap entertainment. But that is docu-drama, not journalism.