Ecclestone in bid for SAAB

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Formula 1 boss, Bernie Ecclestone, is in partnership to bid for Saab.
The announcement came shortly after a deadline for expressions of interest in the company passed without any public bids.

Around 3,400 workers at the Swedish motor company, Saab, have passed a tense evening waiting for news of any rescue bid for their company.
Now a second bid has also emerged, from the Dutch sports carmaker, Spyker Cars. It has unsuccessfully bid before.

Mr Ecclestone's offer is in partnership with the Luxembourg-based private investment company, Genii Capital, which recently invested in Renault's Formula 1 team.

http://news.bbc.co.uk/1/hi/business/8447365.stm

[Jag_Warrior]

Once the sale is complete, the cheapest Saab will go for $265,000 and the cars will only be sold in Asia and the Middle East. :)

F1 boss in last-min Saab bid (http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_474908.html)

Jan 8, 2010
F1 boss in last-min Saab bid

LONDON - FORMULA One boss Bernie Ecclestone has teamed up with a Luxembourg investment firm to launch a last-minute rescue bid for Swedish carmaker Saab, British media reports said on Friday.

Luxembourg-based Genii Capital announced it was interested in making an offer with Ecclestone, just as the deadline for final bids for Saab expired at 2200 GMT on Thursday (6am Singapore time), the BBC reported.

[anthonyvop]

Once the sale is complete, the cheapest Saab will go for $265,000 and the cars will only be sold in Asia and the Middle East. :)

F1 boss in last-min Saab bid (http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_474908.html)


That may be true but I wish I had a piece of the action.

[Easy Drifter]

But in Turkey each car will come with one (1) ticket to the F1 race. :rolleyes:

[DexDexter]

I hope someone will save it, SAAB have always made good, safe cars that have at least a little bit of personality.

[Mia 01]

SAAB is a good car, one of the best. We swedes produces our filofosy to the world.

A bit of Flavio will be good. Go for it!

F1 SAAB!

[millencolin]

My Saab was an unreliable piece of crap. But it was from the gm era. I do hope they are bought out because their older models were mean lookin things

[Daniel]

WTF?

I hope Saab is saved but I hope they go back to making proper Saab's and not just slighty Saaby looking Vectra's.

[Daniel]

My Saab was an unreliable piece of crap. But it was from the gm era. I do hope they are bought out because their older models were mean lookin things
Was it a Saab 900s? My mum has a 900i and tbh it's had a few problems but I think in that day and age Saab's weren't really built for Australian conditions.

[Mark in Oshawa]

And they wont sell them in Canada unless the Quebec, Montreal and Federal Governments cough up some dough....

[Mark in Oshawa]

Was it a Saab 900s? My mum has a 900i and tbh it's had a few problems but I think in that day and age Saab's weren't really built for Australian conditions.

A Car built for Australian conditions? Heck...it is easy to build a car to handle heat...it is harder to build a car to take minus 40....

[Langdale Forest]

And they wont sell them in Canada unless the Quebec, Montreal and Federal Governments cough up some dough....

I hope they don't cough up mouldy old dough. :D

[Mark in Oshawa]

I hope they don't cough up mouldy old dough. :D

Well you...know you feed Civil Servants Soylent Green and Yeast and that is what you get..

[odykas]

WTF?

I hope Saab is saved but I hope they go back to making proper Saab's and not just slighty Saaby looking Vectra's.

I hope a solution is found and jobs are saved.

However, I have never liked their cars http://www.alfisti.gr/forum/images/smilies/yuk.gif

[Sonic]

Ok. What now? I may be missing something but wasn't SAAB bought by koenisegg? (spelling?) Or was that a figment of my wandering mind?

[Jag_Warrior]

Ok. What now? I may be missing something but wasn't SAAB bought by koenisegg? (spelling?) Or was that a figment of my wandering mind?

I believe they made the first offer. But it fell apart because of financing. Then Spyker stepped up. They apparently also had shakey financing. Now Lil Bernie is tossing his hat in the ring, and I believe Spyker is still playing too.

[Jag_Warrior]

There are now rumors that Genii/Ecclestone and Spyker might join forces in the bid to get Saab.


Swedish-language outlet Svenska Dagbladet has reported that Genii and Spyker may team up to present an even stronger bid, and Dagens Industri has gone so far as to speculate that Genii and Spyker might try to pull Renault into a three-way deal (as you may remember, Genii purchased Renault's Formula One team recently), but Saabs United indicates that there's not much to this rumor.

In what critics are suggesting as a less-than-good-faith move, GM may also schedule transportation of the 2010 Saab 9-5's tooling to China as early as tomorrow, January 15, where the model would likely be built wearing Buick badges. The General appointed Steven Taylor and Peter Torngren to oversee the liquidation of Saab on Monday, and as part of that move, they replaced both Saab's CEO and board effective immediately.

Saab Saga Update: Genii and Spyker pondering joint bid? (http://www.autoblog.com/2010/01/14/saab-saga-update-genii-and-spyker-pondering-joint-bid-workers/)

I've never owned one, but Saabs used to be known as rather stylish and unique cars over here. Hopefully the brand survives.

P.S. I didn't realize that Genii (and Ecclestone???) had bought Renault's F1 team. I guess I don't get out much.

[Mark in Oshawa]

I never thought I would root for Bernie to be successful at something, but in this one I am. The world of cars is poorer for not having Saabs.....

[Jag_Warrior]

Ecclestone's Genii group is out. Spyker is back in (maybe).

http://www.autoblog.com/2010/01/24/report-gm-spyker-near-agreement-spyker-chairman-to-step-down/

Trading In Spyker Shares Suspended Pending Press Release (http://online.wsj.com/article/BT-CO-20100126-706394.html?mod=WSJ_Deals_LEFTLatestHeadlines)

[Daniel]

Ecclestone's Genii group is out. Spyker is back in (maybe).

http://www.autoblog.com/2010/01/24/report-gm-spyker-near-agreement-spyker-chairman-to-step-down/

Trading In Spyker Shares Suspended Pending Press Release (http://online.wsj.com/article/BT-CO-20100126-706394.html?mod=WSJ_Deals_LEFTLatestHeadlines)
Saab will be dead in all but name soon thoguh.

[Mark in Oshawa]

Saab will be dead in all but name soon thoguh.
On the weekend we had a protest of Saab owners heading to the GM headquarters asking GM to sell the brand rather than scrapping it. I guess they don't read the news much.

Saab looks DOA to me at this point...

[Daniel]

Yep. It'll take a miracle for Saab to survive. Such a pity

[Josti]

I only have a Dutch reference, though a reliable in that.

"GM confirms Spykers purchase of Saab".

http://www.nrc.nl/economie/article2468511.ece/GM_bevestigt_overname_Spyker_door_Saab

I'm very curious how long Spyker will succeed in this, let alone what their ambitions are with Saab. But glad the brand is still alive, ..for now.

[Mark in Oshawa]

I only have a Dutch reference, though a reliable in that.

"GM confirms Spykers purchase of Saab".

http://www.nrc.nl/economie/article2468511.ece/GM_bevestigt_overname_Spyker_door_Saab

I'm very curious how long Spyker will succeed in this, let alone what their ambitions are with Saab. But glad the brand is still alive, ..for now.

Isn't this like a minnow swallowing a trout? Spyker is a small sportscar manufacturer and Saab is a pretty decent sized car make. I realize I may not have the whole picture here, but I am sort of unsure this will work, but hey, anything that means I can buy a Saab 5 years from now will make my day. Saab's are one of my favourite car makes because even after the GM takeover they were always unusual, innovative and iconic.

[Daniel]

http://news.bbc.co.uk/1/hi/business/8478524.stm



Spyker sold 43 cars in 2008 when it posted a loss of $35m (£21m). Its first offer to GM for Saab was rejected.
Six-year-old Spyker, which sold another 23 cars in the first half of 2009, has yet to make a profit.


:mark:

I don't geddit.

[Lousada]

I would almost say that Spyker is a money laundering operation. I don't understand how they keep going. Anyway, the Spyker stocks had a few bumps these past weeks and that's all that matters :mad: