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Discussion Starter · #1 ·
Stock price for Spyker jumped 20% today so it seems investors are confident about Spyker's intentions.

There are a few interesting stories floating around in the Dutch media. I made a quick translation of this story:
http://www.beurs.nl/opinie/advies-e...r-aast-op-saab-maar-eigenlijk-op-een-zak-geld

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A jump in stock price of 20% in one day? That sounds too good to be true. And maybe it is. Spyker is up to something.
It was definitely on the screens this morning. More than 20% increase in Spyker stock prices. And only because of an idea that is potentially going to cost a lot of money. Spyker is interested in taking over Saab. General Motors has been trying to sell Saab for a while but negotiations with Koenigsegg were recently terminated because of timing issues.

A spokesman for Spyker confirms the company is talking with General Motors about Saab. It seems too much for the small sports car manufacturer in The Netherlands. Spyker has been making a loss for the last 9 year after all. Production and sales numbers are low and the company only survives with financial support of major shareholder Snoras Bank of the Russian nouveau riche banker Vladimir Antonov.

So what’s the logic behind this? It appears Spyker may be after the money included with the take-over of Saab. With the Koenigsegg negotiations, the European Investment Bank (EIB) provided a loan of €400 mln to assist a new owner with the turnaround of Saab. The same loan will be provided to other interested parties, according to Joran Hagglund, Swedish minister of Domestic Affairs.

Spyker smells money that can be obtained through a complicated detour. It is something Spyker has done before. They took over the Midland Formula 1 team in 2006 which also appeared to be a risky financial investment. Spyker not only used the money from investor Michel Mol for acquiring the Formula 1 team but also used it for (re)funding its own factory in Zeewolde, The Netherlands. The same thing may happen with €400 mln of European money.

A take-over of Saab by Spyker may seem hard to believe but Spyker president Victor Muller should not be underestimated. He sees opportunities others don’t. A take-over of Saab can be another trick from his hat.
The investors are sensitive to change from the current loss situation for the company. Stock price jumped quickly from €1.50 to €2 after the news was made public.
 
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Discussion Starter · #2 · (Edited)
Here is another story:
http://www.fd.nl/artikel/13728011/spyker-deal-saab-kan-exit-inluiden-aek

Spyker Cars may disappear from the stock exchange with a possible take-over of Saab, according to Jeroen Willard of AEK. According to Willard, interest in Saab is very serious and is supported by a "Russian stock holder" of Spyker. Spyker stock may be used to finance the take-over and would be an interesting opportunity for Spyker to exit the stock exchange.

The free float would devalue the price significantly and warrant an exit from the stock exchange.

Stock price Spyker Cars:
http://beurs.fd.nl/noteringen/?id=197400
 

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But hang on here ...

From what I have read, they haven't turned a profit in many years.

Does that mean that companies (people) with no money can buy Saab? :eek:
Damn, that puts me in a really good position then! :cheesy:
Perhaps I should put a proposal together and send it over. ;)
 

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im not putting a lot of faith in this one (maybe im just jaded at this point) but it could work...a good company that is losing money can turn around a brand like saab to make it produce income so that they can keep making supercars and stay above water
 

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From what I have read, they haven't turned a profit in many years.

Does that mean that companies (people) with no money can buy Saab? :eek:
Dang, others have been doing it all wrong so far. Saab lost money for a good part of 20 years. So it would only make sense for another money-losing company to take it over. Like minds think ........ alike. ;)


J/K
 

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I'd rather the chinese then another supercar company who knows nothing of mainstream products
 

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Wow this is pretty interesting news. Two thumbs way up if GM pulls this off... Maybe this could be the next best thing after the Koenigsegg fiasco.
 

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I am just hoping they are not trying to raid the company
 
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Discussion Starter · #12 · (Edited)
In the WSJ:
http://online.wsj.com/article/BT-CO-20091202-709679.html

Spyker's other major backer is Abu Dhabi-based Mubadala Development Company, which has a 23% stake in the carmaker. Mubadala declined to comment. Saab also declined to comment on Spyker's interest.
http://www.mubadala.ae/

In 2005 Mubadala purchased a 5% stake in Ferrari, marking the beginning of a unique partnership between two world class organizations. The investment in the world's most famous motoring brand demonstrates Mubadala's commitment to partnering with world class organisations to develop global opportunities and invest in the long-term future of Abu Dhabi.
And on LinkedIn which ties everything together.. :lol:

Alia Abi Saab

Title: Senior Recruitment Executive at Mubadala Development Company
 

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Discussion Starter · #14 ·
Another article from 2005. Muller is a dreamer.. ;)

http://www.channel4.com/4car/news/news-story.jsp?news_id=13400
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Dutch sports car company Spyker has sold a 17% stake to the Mubadala Development Company of Saudi Arabia, a company which already owns 5% of Ferrari.

Spyker, a publicly floated company on the Amsterdam Stock Exchange, has issued 625,000 new shares to Mubadala at ¬12 a share. The investment "enables Spyker to engineer and develop a complete new product line for a Super Sports Utility Vehicle, the Spyker D12 Peking-to-Paris, which will be introduced at the Salon d'Automobiles of Geneva in March 2006."

To build and launch this new SUV - the spiritual successor to the Lamborghini LM-Series, perhaps - Spyker is to create new facilities in Abu Dhabi.

CEO Victor Muller explained: "Not only will this partnership enable Spyker to fundamentally strengthen in business by developing a second product line next to our sports cars, it will also pave the way for Spyker in the Middle East and North African markets. It is set to bring us new strategies for a range of developments, such as the creation of a high-tech production facility in Abu Dhabi for chassis and bodies-in-white (unpainted shells). Also, an automotive training and education centre, as well as an off-the-road driving school supporting brand experience and merchandising, could be envisaged."
 

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Another article from 2005. Muller is a dreamer.. ;)

http://www.channel4.com/4car/news/news-story.jsp?news_id=13400
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Dutch sports car company Spyker has sold a 17% stake to the Mubadala Development Company of Saudi Arabia, a company which already owns 5% of Ferrari.

Spyker, a publicly floated company on the Amsterdam Stock Exchange, has issued 625,000 new shares to Mubadala at ¬12 a share. The investment "enables Spyker to engineer and develop a complete new product line for a Super Sports Utility Vehicle, the Spyker D12 Peking-to-Paris, which will be introduced at the Salon d'Automobiles of Geneva in March 2006."
Um ...... [whistles, pretends not want to throw up] ....... :eek:



 

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I think it's a publicity plo by Spyker, although a little too overt.
Koenigsegg got so much free PR as a result of their intentions, here's a another ultrasupercar manufacturer looking to benefit.
 

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Back to Spyker's bid ......... [bolding by me]

http://www.theautochannel.com/news/2009/12/03/486820.html

By Henny Hemmes
Senior European Editor
Amsterdam Bureau
The Auto Channel
Los Angeles December 3, 2009

Just before General Motors shocked the media by its surprise ‘ divorce’ of CEO Fritz Henderson on Tuesday afternoon, there was another remarkable event that could be mighty important for the survival of the Saab brand.

Last week the Koenigsegg Group AG quit its negotiations with GM to take over the Swedish brand, resulting in a very gloom future for Saab. But on December 1, Joran Hagglund, state secretary of the Swedish Industry Ministry, went to Detroit with four other bids, to talk about the future of the company and its 3,400 employees. In his brief case were four bid, one of them – according to sources within GM - of Chinese state owned BAIC.

Later that day, Victor Muller, owner and CEO of Spyker Cars, got a phone call from GM, telling him the General wanted to proceed with the bid of the Dutch based exotic car manufacturer.

Spyker is a joint venture with the Russian Convers Group, that owns nearly 30 percent and is led by Vladimir Antonov.

At the LA Auto Show, I spoke with Victor Muller about his ideas and feelings about the possible upcoming deal.

Muller said that he was pleasantly surprised to get GM call and honored that GM choose Spyker to try and make a deal to save Saab. “ But the time span is very short,” says Muller, “ we will have to come to terms, before the end of this month.”

Muller is an admirer of the Swedish brand and personally would be really sad, if it would not survice. “ It is a good company, with good and honest people, and most important the new 9-5 is a gorgeous car.

He says he has no information on any new model, except for what was published in the media. Upon an earlier question of a TV-host, if he would have been interested is the car manufacturer was an Italian or French company, his answer was a quick: “Most probably not. We are northern Europeans and we have the same characters, life styles and feelings. There definitely is a match between the Dutch and Scandinavian people.

Upon my question if he is talking to the Swedish government, he said that would be eminent. But the Swedes have already announced that they will not bail out Saab with tax payer money. “ That is something we do not need,” Muller says, “but of course there are issues that we will have to address together.”

Let’s wait see if a Flying Dutchman will be given a chance by the General to succeed in saving a Viking…
 

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I think it's just a guy dreaming and wanting to play hey look at me over here. If Spyker did purchase Saab the quality of the interiors should improve drastically. Other than that I don't see them as a real improvement over GM. Their cars are overpriced, underpowered, and under-engineered (don't think that's a real word).
 

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Victor Muller of Spyker



http://www.latimes.com/business/la-fi-neil4-2009dec04,0,551663.column

Victor Muller, founder of Dutch carmaker Spyker, is putting in an offer to GM. 'I just felt like we have to stand together because . . . we have the same DNA.'

By Dan Neil
December 4, 2009


Victor Muller wants to do something for his people. You know, tall, blond, Nordic types.

The founder and chief executive of Spyker Cars -- the Dutch manufacturer of spectacular, ultra-exotic sports cars -- was in London last week when he heard the news that a deal to rescue Saab had fallen through. Koenigsegg, another rare-isotope luxury-car maker, had withdrawn its bid to buy Saab from General Motors Co. With no suitors at the door and under intense pressure to transform itself, GM said it would be forced to close and liquidate the 60-year-old car company, based in Trollhatten, Sweden.

Muller and his partner, Russian banking tycoon Vladimir Antonov, quickly put together an offer and forwarded it to Deutsche Bank, which is handling the sale for GM.

"I thought, this cannot be," the 6-foot-4-inch, fair-haired Muller said Thursday, at the Spyker stand at the L.A. Auto Show. "It's such a beautiful company."

And more than that, Muller says, he felt a kind of Nordic tribalism that compelled him to want to rescue Saab. "It's true, we [the Netherlands and Sweden] are small northern countries. We don't have big German conglomerates to help us out. I just felt like we have to stand together because we're the same people, we have the same DNA."

Whether Muller's Viking blood alliance will work is anybody's guess. The obstacles are many.

Saab has been a perennial money loser for GM; the company has said it expects to lose about $434 million this year and about the same next year. In its 10-year history, Spyker too is cash negative. The cars sell for around $300,000, but last year the company built a mere 43 of them. With expensive adventures in the world of Formula One and endurance racing, Spyker has had its own near-death experiences in recent years.

Other issues: Typically such takeover bids are propelled by an opportunity to share technology and amortize investments in tooling (think of Fiat's synergy-heavy takeover of Chrysler). But Spyker's sports cars -- hand-built, bejeweled aluminum masterpieces, more like tourbillion chronographs than automobiles -- have almost nothing in common with Saab's charming but comparatively conventional line of family cars.

Finally, Spyker has no experience in the mine-laden business of global car-building. "Did I say I was going to get rid of all the Saab management?" he said. In other words, a GM-style housecleaning is not in Muller's plans.

Regardless of the difficulties, Muller seems to think there's a great value in the Swedishness of the Saab brand. "It's a lovely brand. It's so authentic, and that's such a rare thing."

To be sure, the Saab brand enjoys an outsize affection among American consumers. Even though GM's takeover of the company 20 years ago led to better-engineered and more-reliable cars, the old-style Saabs -- with their wild turbo boost, manic torque steer and enormous rear hatches -- are still regarded as superior. Muller himself fondly remembers driving two-stroke Saabs.

"To put them in reverse you used to turn the key and run the engine backward," he said. "If we fail, I will feel very sorry for Saab."

The Swedish government has said that it would provide up to $400 million in loan guarantees to help Saab stay afloat, but only if the new buyer committed to keeping production in Sweden.

Muller has no problem with that.

"Absolutely," he said. "As a matter of principle. The only truly authentic thing about a brand is provenance. The [Porsche] Boxster is built in Finland, OK, no problem. But could they be built in Mumbai? Sure, they'd be 20% cheaper but nobody would buy it."

On Wednesday, Muller spent an hour at the Saab display studying the 9-5 Aero concept car, the company's next-generation big sedan, if there is to be one.

"When I see the 9-5, if that is the company's future, that is a great car. And the 9-4x [a mid-size crossover] and next-generation 9-3 in 2012. That's a fantastic lineup of product."

It's fair to say that Muller was the only one at the Saab booth smiling.
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Like him a bit better now ? ;)

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