Vladimir Antonov provided the finance for Victor Muller to buy Saab
In a revelation that will surprise no one, Saab ‘owner’ Victor Muller has revealed that the $74 million paid to GM when Spyker (as they then were) bought Saab was supplied to one of Victor Muller’s companies by Snoras Bank refugee Vladimir Antonov.
Muller revealed this little nugget of information in an interview due to be televised in Sweden tomorrow, and also revealed he still owed the money (well, the company he owns still owes the money).
Apart from questions over the validity of the source of Antonov’s ability to loan Muller’s company funds to buy Saab from GM, there is also the question of whether this was actually known at the time by GM, the Swedish Government and the EIB. Espcially as a condition of Spyker’s purchase of GM was the complete exclusion of Vladimir Antonov from any involvement with Saab.
But the news of the source of Muller’s funding for Saab is currently just an aside in the current problem of how on earth a deal can be put together for Chinese companies Youngman and Pang Da to take control at Saab. As things stand, GM will not permit a Chinese takeover of Saab, and that impasse seems likely to finally finish Saab.
Muller seems to point the finger at court administrator Guy Lofalk, who Muller appears to blame for bringing down the original agreement for the Chinese to take a 54 per cent stake in Saab with Muller still involved and still running the show.
Muller appears to believe that his ‘Plan B’ could involve the putative buyers of ‘old’ Spyker – North Street Capital – perhaps being imvolved as some sort of buffer between GM and the Chinese, perhaps even taking on board the stake Muller would have had under the original plan. But that seems far fetched.
Muller also admits that GM can block any sale that involves more than 20 per cent of Saab shares, which means a solution must be all but impossible to achieve.
That said, we believe Guy Lofalk is currently in the US discussing possible scenarios that may be acceptable to GM. But even if he manages that, he’ll still have to satisfy the Swedish Debt Office and the EIB.
The Saab saga continues.
Source: di.se
Ralph Thooley says
North Street Capital DOES NOT EXIST, Do some due dilligence. It was a website (gone now) put up by a con man. Somebody please wake up!!!!!
Cars UK says
And if you look at our previous stories on this subject you will see we had more than a few doubts about North Street Capital’s authenticity!
Jeff says
You guys are over a year late to this news, and are reporting it as if it’s something new. Seriously?
http://www.saabsunited.com/2010/05/muller-vladimir-antonov-financed-saab-acquisition-100.html
Of course GM knew about this. And going forward, they understand that there’s no real entanglement of Saab and Antonov in terms of selling it to another entity. When you say the NSC deal seems far fetched, what are you basing that on? Just you own hunch?
Alyeska2112 says
As a follower and fan of SU, I’m glad to see Jeff here sticking up for the truth and providing facts in the midst of hyperbole.