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February 14, 2012
Government probe halted Saab-Spyker deal
Published: 30 Jan 10 09:48 CET | Double click on a word to get a translation
Updated: 1 Feb 10 11:33 CET
Online: http://www.thelocal.se/24686/20100130/
An investigation ordered by the Swedish government into the workings of Spyker and its Russian investors landed on the desk of the FBI and put a temporary stop to the Saab deal being reached.
- Saab shares dive despite strong 2011 report (10 Feb 12)
- Saab to cut Swiss Gripen fighter price: report (8 Feb 12)
- Several bids for Saab: administrator (7 Feb 12)
The assignment was initiated by the Swedish National Debt Office (Riksgälden) which brought in private investigators to aid the mission.
Säpo is reported to have found connections between the Antonovs and organised crime as well as involvement in money laundering.
To prevent the Russians gaining any possible control over a new Saab-Spyker venture the government handed their findings over to the FBI.
The US government reacted quickly to the report and gave the board of General Motors a direct order to stop the deal, which happened on December 18th.
Hans Lindblad, state secretary at the Swedish Ministry of Finance, has confirmed the course of events to DI, stating that by bringing such information to light, the government were able to argue for a prolonged bidding process in December last year.
Lindblad told DI there is no longer a Russian connection. "The Antonov family is gone now and have no power position whatsoever in Saab Spyker," he said.
TT/Christine Demsteader
news@thelocal.se
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If you're going to co-sign a loan you want to know fairly well who you're co-signing with. I certainly wouldn't want the Swedish government to co-sign a loan to organized crime. In the end, the Swedish tax-payers will probably be stuck with the bill for this €400 million loan even with the current backer.
I guess that's the best kind of deal to do - get the government to assume most of the risk and reap the rewards yourself if it's a success.
They should give it to Konesegg.
In that respect who knows if anything has changed despite the apparent change of personel as stated above.
The original backer could well still be sitting waiting in the background having fixing an independant loan deal and agreement with one of the present on paper backers, and in the longer term once they have their hands on the EU or SW.govt funds, only then will their true intentions, honourable or otherwise begin to come to light.
We can only wish for the best, but all things considered including also the track record of both companies,especially Spyker, I have my doubts about how or where this business will end up and just hope the Swedish taxpayers and workers don't end up being sold down the river.
Even if the gangsters are booted, they seldom go far and it still doesn't explain past associations. To this, Spyker is silent. Why?
This was the best alternative? Really?
credits that Snoras bank (Sponsor of Spyker Squadron and belonging
to Antonov Clan) has given to Spyker in the past. Maybe, just maybe,
Vladimir Antonov made a big profit by selling his Spyker shares these
days. Maybe, just maybe, Victor Muller feels much better now having
the swedish government offering guarantees and giving money.
Fact, not maybe: Spyker's turnover in Q1+2/2009 was 4 Million Euro, Löss
in the same period was 8,7 Million Euro. Spyker never worked profitable
since they started to build cars. They had to bear credit of about 46 million
Euro, which is 4.6 Million per Person Working for Spyker (total 100).
Unbelieveable, but "maybe" the only reason for this deal was
to rescue Victor Muller's life from russian Maffia.
Would you want the Mafia to own a key resource that is a leader in its field?
No, I am not against Russia or the Russians but, remember the submarine that showed up near Sweden? Did they ever come up with a credible explanation?
I believe Russia is still in transition, it is too early to know how they will want to live with the rest of the world. Perhaps, wild guess, they thought they could get SAAB the airplane company, with the JAS-39?
Hint No. 2: The Aral Sea is drying up and millions will be in dire straits and they will need funds and help from many nations. Why are they ignoring a major problem growing in the middle of their nation? I don't know, the news from the Aral Sea probably come from Satellite pictures taken by the best photo satellites: The French.
Where is the USA in all this? I wish I knew. There is nothing on the Aral Sea, they only focus on Global Warming, aren't they related?
I totally agree with Zircon: We MUST do something about Climate Change and we must do it NOW! I'm freaking freezing. I hope this deal sells more Spyker cars. We need the CO2.
"The US government reacted quickly to the report and gave the board of General Motors a direct order to stop the deal, which happened on December 18th."
back during the last month. How, if there is no new investor ? In a market that is more than critical (automotive), for a company that in the past never made any profit, there
is hardly any chance to solve this problem. If you are not Victor Muller, seeing the chance of getting new money telling the people he will rescue Saab. Read the book about his company "Spyker-Een dollemansrit" and you will know, how he thinks. By saying he will lead Saab to success again he forced GM and swedish government in a certain way to talk to an investor that is no real investor. He does not take a risk. The risk for him was Antonov, because he is dangerous not getting his money back.
Problem solved. As it is said: The swedish taxpayers will pay the bill ... .
If Russian Gangsters are what it takes to sell cars, then GM should have partnered with them. At some level all the billionaires are gangsters.
GO SELL CARS. You haven't been profitable for 20 years for God's sake.
Own up you are Bob Lutz.