SWEDEN: Mystery billionaire behind renewed Spyker bid for Saab
By: just-auto.com editorial team | 22 December 2009
An unidentified Dutch billionaire is behind Dutch sportscar maker Spyker's last-ditch bid to buy Saab from General Motors, according to Swedish newspaper Svenska Dagbladet which cited several sources close to the talks.
Spyker renewed its bid for loss-making Saab on Sunday, two days after GM broke off talks with the Dutch group and said it would begin winding down its Swedish brand. Representatives from the two companies held fresh talks yesterday in Stockholm.
Swedish press reports suggested that one reason GM agreed to resume the talks was that the Dutch group had addressed concerns over Spyker's Russian investors.
Svenska Dagbladet reported that Spyker's main investors with a 29.3% stake, Vladimir and Alexander Antonov, were no longer behind the Dutch group's bid for Saab. It added that Spyker's second-biggest investor, Abu Dhabi state investment fund Mubadala Development, which owns 22.7%, was not involved in the bid either.
GM was also apparently concerned over letting technical know-how go to Russia. GM has so far refused to comment on Spyker's renewed bid although a Saab spokesman told the Swedish news agency TT: "It is important for us that there is a continuing dialogue between interested (buyers) and GM. We can still hope as to what the conclusion will be."
Swedish media have previously reported that one of the main changes in Spyker's renewed bid is that it has said it does not need a European Investment Bank loan before the end of the year in order to pursue its bid.
GM has said it wants to sell Saab before the end of the year.
Sectors: Financial, Vehicle manufacturers
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