Therefore fell Saab deal
October 21, 2011 at 08:24, Updated: October 21, 2011 at 09:22
Completely new data from the administrator Guy Lofalk says Youngman and Pang Da did not want to invest through Muller's holding company - and Saab's parent company - Swedish Automobile without buy 100 percent directly to Saab Automobile. Yesterday posted Lofalk an application to cancel the reorganization.
Saab seems to be in a hair's breadth from bankruptcy. "The reconstruction will cease if the purpose of reorganization is not likely to be achieved". It is the legal sense right now, the entire Trollhattan holding your breath.
Yesterday requested Saab administrator Guy Lofalk that reconstruction would be discontinued. This despite the fact that yesterday was information on the new bridge financing to keep Saab forearms during the reorganization. It was the American Foundation North Street Capital as via share issue and loans would pump in a financing of over 460 million. The press release came at 14:14. Over two hours later came a new press release, to the effect that Lofalk defects.
SvD Business received late yesterday afternoon while at Guy Lofalk briefly on the phone.
The article continues ...
Why stop?
-Bridge financing of EUR 70 million from the Chinese prospective owners Youngman and Pang Da has not fallen out as planned. Only small amounts of money have been received. But the deal has since failed to Youngman and Pang Da did not want to go through the holding company Swedish Automobile, but want to invest and become 100 percent owner of Saab Automobile. But there sits the owners of Swedish Automobile receive, says Guy Lofalk.
But according to a press release from Saab's how it should get money from North Capital?
-I put a period at 14 o'clock yesterday, the parties - that the prospective buyers Youngman and Pang Da and current owner behind the Swedish Automobile. When it was passed, none of the conditions I set met. In the case of North Capital was the documentation and guarantees that it will fall due money is totally inadequate for reconstruction is to continue. I have not seen any agreement to that effect.
Why do Chinese companies do not invest in the parent company Swedish Automobile?
-It may be the answer. They have announced that it is.
Sources say that you went behind the backs of Muller. How about that?
-No, absolutely not, he has been aware of what I have done all the time, I went to Beijing early next week.
What did you do in Beijing?
-I had a meeting with the NDRC's second general manager. There, I explained the precarious situation of Saab's reorganization and financing of medium and long term. I stressed that the NDRC has to take a quick decision on the matter of granting a utomlandsinvesering. Throughout the meeting, attended by the Swedish Embassy.
NDRC stands for National Development and Reform Commission. It is the super-ministry in Beijing to accept the entire Saab deal.
What happens now?
-I mailed the application to the District Court today - then the district court to send it to Saab for comment. The district court then decides.
Saab is now applying the same time to have administrator Guy Lofalk replaced. SvD Business searched in vain Victor Muller last night.
Swedish Automobile shares were down 9.6 percent on Euronext, Amsterdam meaning. It closed at 85 cents.
Marita Heather is purfärsk State Secretary of Industry Annie Loof (C).
-We pocket pair to the best we can, but Saab's future lies in Saab's hands, she says.
Jonas Froberg Reporter Enterprise
08-13 52 92 jonas.froberg @ svd.se
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