Back on December 18, things were looking pretty bleak for Saab.
Spyker submitted their second offer for Saab, which was turned town flat, with GM announcing that they would commence windup operations for Saab.
DN.se are now running a story sourced from the Swedish news agency, TT, where they state that the turn down was at the direct request of the US government, based on information about the Antonovs (former Spyker shareholders and directors) that was passed on to the FBI.
A rather poor Googletrans:
A source close to the government stated that the Debt Office of the DI gave a private survey companies and SAPO in the hard task of reviewing the Russian interests, which resulted in a report submitted to the FBI. The report contained, among other things, strong linkages between Antonov Group, majority owner of Spyker Cars, and money laundering and organized crime.
This led to the General Motors board of directors received a direct order by the U.S. government to stop the deal, which also took place on 18 December. The sequence is confirmed by Hans Lindblad, state secretary at the Treasury.
He told the newspaper that the circumstances, it was Sweden who has developed information, facilitated the Government to argue that the bidders would receive a time extension. Lindblad says that there is no Russian ownership link anymore.
- Antonov family is gone now and has no position of power in the Saab Spyker, “he told the DI.
Concern about the Antonovs still exists in the form of Spyker’s quiet investor.
Dutch shareholder groups are asking for answers on the backing of Tenaci, the private company set up by Victor Muller to buy out the Antonovs.
A securities and shareholders watchdog group is crying foul over the Spyker purchase of Saab. Dutch association VEB is insisting that Spyker CEO Victor Muller clear up questions about the mysterious financing that surfaced at the last minute of his negotiations with General Motors.
Saab-parent GM had insisted that Spyker chairman, and Russian banker, Vladimir Antonov divest his stake in the Dutch automaker as a condition to the Saab transfer. Antonov’s stake of 4.6 million shares was bought by Tenaci Capital, owned by Muller. Tenaci contributed €50m in cash to GM as part of the sale, while providing €82m in loans to Spyker, according to a press release from the automaker.
Muller was questioned about this on Dutch television as well, and told the questioner that the company was private and that he should “mind his own business”.
This is true.
Let me repeat something that I wrote last night about this question of the quiet investor.
The public may feel they have a need to know, but if he’s not required to tell, then so be it.
One thing I can assure you of is that GM, the Swedish Government and the EIB would be in a position to demand disclosure, and I’m sure they have been told. The fact that two out of those three have given Spyker the green light already is indicative (to me) of the fact that the investor is solid, acceptable, and presumably entitled to the privacy that he/she demands.
By law, Muller would not have to say anything publicly. Entities from whom you’re trying to do deals and get loans, however, have a position that allows them to demand full disclosure, albeit with confidentiality.
They’ve seen it, and given it the green light.
The questionable elements are removed.
No worries.
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Thanks to Sven for the link.
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