Showing posts with label Swan. Show all posts
Showing posts with label Swan. Show all posts

Wednesday, November 30, 2011

More Troubles for Swedish Carmaker as Saab Great Britain Files for Administration



The impasse on the sales of Saab Vehicle to Pang Da and Youngman has not been solved, due to Saab investors and business Common Engines objecting to its program and technological innovation technological innovation being moved to the China.

Swedish Vehicle N.V. (Swan), though, declared these days that Saab Excellent The united kingdom (Saab GB) submitted for present administration with the Substantial Courtroom in Ones.

Saab GB says it wants that this measures gives both the business and its lenders the necessary appropriate security until acceptable money has been guaranteed. If its demand is recognized, the Substantial Court-appointed manager will take over the changeable administration from its present panel of administrators.

Swan included that, even though it has gotten a money responsibility from Youngman for the transaction of Saab Vehicle employees’ income, this has yet to materialize…

 

Thursday, September 29, 2011

Spyker to be Sold to US-based Equity Firm for €32 million



Swedish Automobile N.V. [Swan] owner of cash-strapped Saab, announced today that it has reached an agreement with US-based private equity firm North Street Capital LP concerning the main terms for the sale of its Spyker luxury sports car business.

North Street Capital LP is based in Greenwich, Connecticut and its managing partner, Alex Mascioli, also doubles as a race car driver.

The Swedish company said it will receive €32 million ($43.6 million USD) “if and when the sale would become wholly unconditional”, adding that "since the Spyker assets arepledged to Tenaci Capital B.V. (Tenaci) the net proceeds of a sale will be used to redeem Swan's debt to Tenaci."

Swan CEO Victor Muller, who has sought to sell Spyker since February in order to focus on Saab, will remain as Spyker CEO in order to ensure the continuity of the carmaker's relationship with its customers.

The company notes, however, that there can be “no assurance” that the negotiations will be completed successfully and the final agreement will be reached on the already discussed or different terms.

Maybe that’s because Muller knows from his prior experience with Saab and Spyker and their former suitor, Victor Antonov, that it ain’t over until it’s really over…

 
PHOTO GALLERY

Twitter Delicious Facebook Digg Stumbleupon Favorites More