Saab’s US investment firm hired to haul it out of its financial quagmire says it is hopeful a deal with Saab can be “consummated” as the desperate manufacturer seeks to pay suppliers and staff.

Endeavor Advisory Group previously said it had secured positive feedback from private equity and hedge funds, although declined to name the identity of any potential new funding source.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Speculation has centred on a potential bridging loan for Saab as it battles to escape the enormous twin pressures being exerted by unpaid staff and suppliers, with Endeavor hinting a possible deal may be in the offing.

“As far as Endeavor is concerned, a positive conversation is going on, in terms of Saab, in terms of the bridging loan,” an Endeavor spokesman in New York told just-auto.

“I can’t pinpoint what will be announced later today or announced whatever. There are number of people interested in the deal, that is a fact, that nobody would dispute.”

Endeavor is declining to discuss what impact any deal could have on the parties to whom Saab owes significant cash – “that is beyond my control” – but the automaker’s major white collar union today (31 August) told just-auto it had sent the manufacturer a letter outlining wage arrears for August.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“[Endeavor’s] job was to go and find Endeavor relationships [with] major financial institutions, some of the world’s largest private equity and hedge funds,” added the New York spokesman.

“I am hopeful it will be consummated. It would be good for the economy of Sweden.”

Endeavor previously noted it had clients who had financed the automotive sector in the past.