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  1. #1
    OpelAus Owner poita's Avatar
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    SAAB Chinese buyout?

    Thoughts?


    http://www.carsales.com.au/news/2011...ff-again-24846


    Hawtai back in the running after Great Wall rumour quashed
    It's been a turbulent week for Swedish car maker Saab, which is struggling to survive after it was forced to halt production for the past month because of a cashflow shortfall.

    The company has gone to China to try to raise enough cash to stay afloat after being sold by General Motors to small Dutch sportscar maker Spyker last year.

    Last week Saab announced it was close to securing a deal with Chinese car maker Hawtai, which was to invest about $USD200 million for a share of the maker.

    But the deal fell through at the 11th hour and the next day it was reported that rival Chinese car maker Great Wall was interested in a share of Saab.

    But the Great Wall deal too was hit on the head, allegedly by the Chinese government.

    However, it has now emerged that the original player, Hawtai, is back in the picture and could resurrect the deal.

    According to a report in Britain's Financial Times newspaper, the original Hawtai deal did not fall through because of government intervention, rather it was due to differences in the terms of the agreement

    The paper quoted Hawtai vice-president Richard Zhang saying the deal was terminated because of "commercial and economic realities, not lack of government approval". Spyker had earlier said Hawtai was not able to secure "the necessary consents".

    "Saab needs help and we strongly believe we are the best partner in this regard," Zhang was quoted in the paper as saying. "We are very focused on coming up with a fair and reasonable structure for a long term relationship."

    If the deal goes through it will likely mean that Australia Saab dealers and customers will not notice the interruption to supply of vehicles, given they are sold in relatively small numbers locally.

    If the deal falls through and Saab fails to find the necessary backing, the brand may be forced to close or become a boutique car maker.

    Regardless of what happens, however, existing Saab customers are protected because Australian law requires the company to make available parts and service for 10 years after a car has been withdrawn from sale
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  2. #2
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  3. #3
    OpelAus Forum Addict kabel's Avatar
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    Good luck.

  4. #4
    OpelAus Enthusiast Jerram's Avatar
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    shame that - anyone looked at the new 9-5; it looks like a great car.
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  5. #5
    OpelAus Participant Bobarache's Avatar
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    I'm surprised Saab doesn't have a strong local following

  6. #6
    OpelAus Forum Hierarchy Wraith's Avatar
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    Click here to enlarge Originally Posted by Bobarache Click here to enlarge
    I'm surprised Saab doesn't have a strong local following
    I'm not...

    Most look crap, cost alot and fall apart so little wonder...

    However the latest models have improved in the looks and reliabilty area, but their 'dogged' stigma would take a while to turn around, they suffered terrible reliability issues all through the 90's...ring a bell for similar year Opels Click here to enlarge
    My rides: 2004 Opel/Bertone TS Astra turbo convertible - 2012 Mercedes Benz C204 C Class coupe
    Others: 2009 Honda City VTiL sedan - 2015 Fiat 500
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  7. #7
    OpelAus Enthusiast Dahlia's Avatar
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    I honestly don't think I've ever seen a SAAB?
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  8. #8
    OpelAus King Dingaling guy 27's Avatar
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    Click here to enlarge Originally Posted by Dahlia Click here to enlarge
    I honestly don't think I've ever seen a SAAB?
    Are you serious?
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  9. #9
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  10. #10
    OpelAus Enthusiast Dahlia's Avatar
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    Click here to enlarge Originally Posted by guy 27 Click here to enlarge
    Are you serious?
    I knew the company existed but I don't think I've ever seen one on the road.
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