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February 14, 2012
Russian businessman finances Saab deal
Published: 18 Feb 10 14:59 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/25078/20100218/
Vladimir Antonov, the Russian businessman forced to step aside as a condition of the takeover of Saab by Dutch Spyker, has claimed that his banks have financed the first downpayment to GM, according to a report by news agency Bloomberg.
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"The first payment has been made available by our banks," Antonov told Bloomberg by phone.
Spyker's CEO Victor Muller has on several occasions refused to reveal the identity of the lender. He has stated that it is his own firm Tenaci which has backed the instalment by loaning the money.
Vladimir Antonov is Spyker's largest shareholder with almost 30 percent of the shares and his banking arm Convers Group has provided major loans to the debt-ridden sports-car maker.
Muller has agreed to acquire Antonov's shareholding and settle outstanding debts to the Russian's banks through his company Tenaci. GM is reported to have made this demand as a condition of the sale of Saab to Spyker.
Vladimir Antonov told Bloomberg that he could not understand GM's thinking. He has launched a self-appointed investigation to clear himself of any suspicion over links to the criminal underworld.
Spyker is due to pay a total of $74 million for Saab with the final instalment due by July 15th.
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He was the main stumbling block to a deal due to their obvious suspicions of both the companies and Antanovs true intentions.
Now the ink is hardly dry on the paper, and its an about turn, and not hard to see in what direction.
Having gone back on their word with this move, I wonder what, if any, value can be placed on their assurances to Sweden and its workforce.
Spyker was already a destitute and broken company, in a worse state by far than than Saab.
However Santa has arrived early for Anatov and Spyker in the form of the Swedish taxpayer.
I would be happy to be proved entirely wrong,but I fear very much for Saab, in relation to its Swedish future at any rate.
And it's not just the US, it's a worldwide phenomenon - just look at what happened at Rover.
It's niaive to expect deals like this will be to the letter of the law that most ordinary people expect - big business is just not like that. Losses here can be easily misrepresented there - strange but true.
I carry no torch for any of these business moguls, but what I earnestly hope and believe is that the Spyker deal will create a viable Saab who will build cars many people will want to drive.
MG Rover - check its demise history and the controversay that followed.
1) You are speculating wildly
2) Antonov has no proven links with the mafia and no criminal conviction of any kind and that is a fact
3) The Swedish govt and GM were reported as being fully in the picture as to how Muller got this particular PERSONAL loan and let's not forget it was from a bank and not an individual
4) Antonov and Comers will have no direct ownership or voting rights in Saab and this loan is for a trifling amount when talking about a billion dollar car company
5) This is a pretty pointless story - who cares if a Russian bank has lent some money to a Dutch guy????
6) And lastly, and based on experience, I don't believe you when you say 'I would be happy to be proved entirely wrong' - you never have been in the past