"We're not going to need GM's approval," Victor Muller told TTELA in Stockholm earlier today. As reported this morning, all focus is now on a new solution that General Motors will not have to approve.
From earlier we know that GM will have to approve changes in the ownership structure of Saab. This due to the many technology license agreements between Saab and GM. It is believed that the latest discussion involve an arrangement where Youngman gets convertible preferred shares in Saab. Shares without influence on the company, but that can be converted into ordinary shares after a predetermined timeframe.
"We are not distracted by Lofalk's decision but continue to work on a solution with Youngman. We will do a deal that does not require GM's involvement at all," Muller told TTELA.
Earlier today the news broke that the court appointed administrator of the Saab reconstruction will ask the court to terminate the reconstruction of Saab. Something that puts even more time pressure on the parties in negotiations.
"Theoretically, we have until the date the district court terminates the reconstruction," Muller said to TTELA on the tight time frame they are working by.
Chinese Youngman with CEO Rachel Pang is also in Stockholm negotiating, and she is still hopeful.
"We continue the discussions and focus on what should be the next step and how to pay the wages," she said to TT.
According to Rachel Pang, the wages can be paid quickly as soon as a solution is reached. She would however not comment on what kind of arrangement was being discussed now after GM rejected an arrangement where Youngman would take a 20 percent stake in Saab.
"I can not go into it. Hopefully, I can tell you more tomorrow," Rachel Pang said.
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.
