If Spyker and Saab's deal with the two Chinese companies which were made public yesterday is finalized, Saab will be 53.9 percent owned by Chinese companies. Their investment of EUR 245 million, where Youngman will invest EUR 136 million and Pang Da EUR 109 million, will be made possible by issuing new shares in Spyker Cars (to be named Swedish Automobile from tomorrow). This means that the existing shareholders will see their shares being diluted. But that does not apply to all shareholders. According to Swedish business news E24.se, Saab's Chairman and acting CEO Victor Muller's company Tenaci Capital will convert a EUR 42 million loan to Spyker Cars into shares and thus keep its share in Spyker Cars at 29.9 percent.
The largest owners will then be:
Tenaci Capital N.V. (Victor Muller) with 29.9 percent
Zhejiang Youngman Lotus Automobile Co. Ltd with 29.9 percent
Pang Da Automobile Trade Co. with 24 percent
The remaining 16.2 percent will be owned by:
Gemini Investment Fund Limited
GEM Global Yield Fund Limited
Shares traded on the Amsterdam Stock Exchange
It should also be mentioned that Lars Carlström, spokesman of Russian banker and Saab enthusiast Vladimir Antonov in issues regarding Saab, has said that Antonov is still interested and willing to invest SEK 1 billion in Saab, that's approx EUR 110 million. I assume that he would want a 29.9 percent share in return.
A blog fueled by enthusiasm about Saab, the greatest car company between the North and the South Pole. And their cars, which probably is the only cars that would start on a cold and crispy South Pole morning.
