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De deal met Pang Da. Wat stelt het voor?

237 Posts
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  1. [verwijderd] 27 mei 2011 23:56
    quote:

    Ursus arctos schreef:

    oh, ze kunnen maandag natuurlijk prima omhoog (of omlaag), maar voor 15% is denk ik toch wel wat meer nodig.. Dat gezegd hebbende blijft Spyker natuurlijk een raar aandeel, kan alle kanten op :)
    A;s je winst hebt verkopen anders afwachten er is nog meer nieuws te melden door de spijkerbaas,voorlopig weer up.
  2. [verwijderd] 28 mei 2011 16:18
    quote:

    AX lover schreef op 28 mei 2011 15:34:

    Dat geld van de EIB is er dus nog steeds niet...
    Als ze het wel binnen hadden was er echt wel een persberichtje uit gegaan. De EIB heeft gewoon geen zin om de lopende activiteiten van Saab te financieren. Voorlopig kan Saab hun eigen 50% gedeelte aan de EIB financiering niet betalen en lijken ze zelfs niet eens te proberen de EIB te overtuigen dat ze het alleen voor de bestemde projecten gebruiken.
  3. s.lin 30 mei 2011 08:56
    HERH:: Spyker-CEO verwacht goedkeuring deal Pang Da
    Gepubliceerd: 07:02
    (Herhaling van vrijdag gepubliceerd bericht.)

    TROLLHATTAN, ZWEDEN (Dow Jones)--Spyker Cars nv (SPYKR.AE) verwacht dat de Chinese overheid over twee of drie maanden goedkeuring zal verlenen voor de financieringsovereenkomst tussen de Chinese autodistributeur Pang Da Automobile Trade Co Ltd (601258.SH) en Saab Automobile, dochterbedrijf van Spyker.

    Dat zegt bestuursvoorzitter Victor Muller van Spyker vrijdag tijdens een bijeenkomst in de Saab-fabriek in het Zweedse Trollhattan. Volgens Muller heeft het bedrijf voldoende financiele middelen om de periode tot de Chinese goedkeuring te overbruggen.

    Hij voegde echter toe dat ook nog goedkeuringstrajecten in andere landen lopen, waaronder Zweden en de VS.

    Vorige week maakte Spyker bekend dat Pang Da voor euro30 mln circa 1.300 Saabs zal afnemen en daarnaast voornemens is een belang van 24% te nemen in Spyker voor euro65 mln.

    Door de betaling van euro30 mln was Saab vrijdag in staat de productie te hervatten, nadat deze sinds 6 april had stilgelegen vanwege betalingsproblemen aan financiers.

    De overeenkomst met Pang Da moet ook door de Zweedse overheid worden goedgekeurd. Muller verwacht deze toestemming binnen een maand, nadat de CEO donderdag een ontmoeting had met de Zweedse autoriteiten.

    Spyker is ook nog in afwachting van euro29 mln die het bedrijf wil opnemen uit een kredietfaciliteit van de Europese Investeringsbank. Muller stelt vrijdag geen idee te hebben wanneer dit bedrag op de rekening van Spyker wordt bijgeschreven.

    Daarnaast komt er nog een kasinjectie van euro30 mln van Spyker-aandeelhouder Gemini.

    Saab heeft door de productiestop orders voor ongeveer 6.000 auto's misgelopen, zegt Muller vrijdag tegen journalisten. Hij herhaalt daarbij te verwachten dat Saab in 2012 winstgevend zal zijn. Het aandeel Spyker staat vrijdag kort voor sluiting 17% hoger op euro3,85.

    Door Christina Zander; Dow Jones Nieuwsdienst; +31 20 571 5200; amsterdam@dowjones.com

    (c) 2011 Dow Jones & Company, Inc.
  4. AX lover 30 mei 2011 12:04
    Dat geld van Gemini is idd al binnen (en weer uitgegeven).

    Er zijn 2 injecties geweest voor Saab:
    - 30 miljoen van Gemini (converteerbare lening)
    - 30 miljoen van Pang Da (in ruil voor auto's)

    En dan krijgen ze nog een paar miljoen van GEM in ruil voor 1 miljoen aandelen.

    Ze rekenen ook al 2 maanden op 29,1 miljoen van de EIB, maar dat geld is nog niet binnen...
  5. [verwijderd] 30 mei 2011 12:17
    quote:

    AX lover schreef op 30 mei 2011 12:04:

    Ze rekenen ook al 2 maanden op 29,1 miljoen van de EIB, maar dat geld is nog niet binnen...
    zoals ik in die andere thread beschrijf denk ik dat ze dit bedrag op hun buik kunnen schrijven of zie jij ergens nog een postje waar die 400mil 'earmarked' ontwikkelingsgelden in verborgen zitten?
  6. AX lover 30 mei 2011 18:29
    quote:

    schreef:

    Saab-production "ran well" on Monday

    Posted 18:09
    The second day of production of the Saab factory after the long shutdown went as planned, although it has not come up to normal production figures yet.

    - It has gone well and been good, although it may have been a few short stops, "said Margaretha High Current in the communication department.

    She explains that it is still in the startup phase and therefore does not come up in quite a pace of about 220 cars that they produced before the crisis. They aim to reach a normal pace for this week again. Trollhättan factory has 6500 ordered vehicles to be produced, and according to Muller at boot time on Friday to get new orders.
    ttela.se/ekonomi/saab/1.1233499-saab-...

    En dus is er weer een leugen van Victor Muller naar boven gekomen! Afgelopen vrijdag wist hij nog vol bravoure te melden:
    "Vanaf maandag produceren we weer op volle kracht!"

    Ik plaatste daar toen al mijn vraagtekens bij omdat er op SaabsUnited hele andere geluiden te horen waren. Die spraken over 80% en meer voorwaarden waaraan voldaan moest worden.

    En als ik deze mevrouw zo hoor gaat het nog wel even duren voor ze eindelijk weer eens 220 auto's op 1 dag kunnen produceren.
  7. AX lover 2 juni 2011 22:12
    quote:

    schreef:

    Pangda grabs China Ssangyong dealership rights

    JUNE 2, 2011 AT 9:29 PM
    Although ‘Old Man Pang’ has only just stepped off the plane from Sweden he is eagerly setting up new deals to expand the Pangda empire. Pangda’s latest attention grabber is Ssangyong, Pangda have gained the rights to sell the brand in Northern China and are hoping to improve the brands standing in the Chinese market. Pangda assisted Subaru in the Chinese market and turned them into quite a successful brand in a relatively short time, Pangda are hoping to repeat the Subaru success with Korean built but Indian owned SUV company.

    Ssangyong currently has 70 dealers in China, the original network was set up in 2005 after SAIC invested in Ssanyong and ultimately become the majority shareholder, SAIC was routed from the company in early 2009 when Ssangyong went into bankruptcy.

    The next generation of Ssangyong Korando is expected to launch in China later this year and will be a major part of Pangda’s Ssangyong push.
    www.chinacartimes.com/2011/06/02/pang...

    Pang Da heeft blijkbaar een voorliefde voor (bijna) failliete automerken.
  8. [verwijderd] 3 juni 2011 11:32
    Caixin Online

    June 2, 2011, 11:34 p.m. EDT
    Chinese car makers scramble for Saab
    Several big players are competing for ailing Swedish auto maker

    By Liang Dongmei

    BEIJING ( Caixin Online ) — Legendary Nordic auto maker Saab is gravely ill, fighting for every breath while its assembly lines sit idle and bank accounts sit empty.

    Yet several Chinese companies have been falling over each other for a chance to buy or at least access technology from the sick Swedish car maker.

    The scramble got serious enough to attract attention from the National Development and Reform Commission (NDRC), the country’s top economic planning body, which May 18 invited several Chinese car makers to a meeting to discuss Saab’s future.

    Caixin learned from a source that NDRC called the meeting with car executives to prevent a potential bidding war for Saab SE:SAABB -2.31% , which could engulf companies like Beijing Automotive Industry Holdings Corp. (BAIC), Hawtai Motor, Pangda Automobile Trade, and China Youngman Automobile.

    NDRC officials said they would not approve any company’s plan to buy Saab’s Dutch owner Spyker NL:SPYKR +0.67% , SPYKF -4.48% , a source told Caixin. But they took no stance on possible joint ventures between Chinese firms and Spyker to jointly produce cars in China.

    BAIC, China’s fifth-largest auto maker, had tried to acquire Saab in 2009, when its former owner General Motors GM -2.08% put it on the block as part of a retrenchment. At the time, about 80,000 Saabs a year were rolling off assembly lines.

    GM rejected the offer and sold the company to Spyker in 2010. But it agreed to sell BAIC technology for producing two, pre-2005 models — the Saab 9-3 and Saab 9-5 — for $200 million. At the time, BAIC Chairman Xu Heyi said the technology was more advanced than most in the Chinese auto sector.

    Spyker still controls technology for several of Saab’s latest models. But that technology went unused after the company announced in late April that production had been halted for a month while it sought financial support. Spyker executives also disclosed that they had been negotiating with “Chinese auto makers” for several months.

    Spyker then surprised markets May 3 by announcing in Beijing that it had reached a cooperation agreement with Hawtai Motor, an 11-year-old private company. Hawtai said it would buy 29.9% of Spyker for 120 million euros ($174 million) and give the Dutch company a convertible, six-month loan worth €30 million.

    The companies agreed to jointly manufacture and distribute Saabs in China. Hawtai said it would introduce the Saab 9-3 car to the Chinese market in 2013.
    Roadbumps

    Some market watchers questioned whether Hawtai was big enough to raise the necessary funds and complete the acquisition. The auto maker booked revenues of 5.5 billion yuan ($848.5 million) by selling 81,400 vehicles last year, posting a net profit of 350 million yuan.

    These concerns apparently were not unfounded, and Spyker announced a few days later that it had terminated the deal with Hawtai.

    Moreover, the potential Chinese investor was spooked because Saab’s financial status was worse than Hawtai expected, said Jia Xinguang, an automotive industry analyst.

    Spyker reported selling 9,674 cars in the first quarter, up 167% from a year earlier, yet it lost €79.4 million during the period. It reported €207 million in debt last year and full-year loss of €221 million.
  9. [verwijderd] 3 juni 2011 11:33
    Continued from page 1

    Hawtai spokesman Huo Xinyi later admitted to Caixin that it could not meet Saab’s financing needs as quickly as hoped. One fear was that an acquisition might not save Saab from bankruptcy.

    The Chinese company has not given up hope: Its May 17 statement said talks with Spyker were continuing, and that future collaborations could not be ruled out.

    Huo said his company may be interested in Spyker’s intellectual-property rights for Saab’s current models. Or it may snap up the car maker’s assets if Saab goes under.

    “The technology is not bad,” he said. “Its sales network laboratory technology and R&D team are good, too, and valuable to Hawtai.”

    Four days after Hawtai and Spyker canceled their proposed deal, China’s largest wholesale auto dealer Pangda stepped into the picture by announcing a proposal to buy a 24% stake in Spyker for €65 million.

    In addition, Pangda and Spyker plan to form a joint venture to manufacture and sell Saabs in China. Pangda signed an agreement to buy €45 million worth of Saab autos, with €30 million paid up front.

    Pangda, which listed in April on the Shanghai Stock Exchange, appears to have enough cash. It posted 53.8 billion yuan in sales and a net profit of 1.2 billion yuan in 2010. But the company cannot build Saabs — or any other car — in China until it receives an NDRC license to manufacture sedans.

    To leap this licensing barrier, sources told Caixin, Pangda has proposed cooperating with private Chinese manufacturer Youngman, which makes buses, heavy-duty trucks and auto components — and recently obtained an NDRC license to manufacture sedans in December.

    Youngman, a longtime European manufacturing partner, reported assets of 2.5 billion yuan and annual sales of 1.7 billion yuan in 2008, the most recent year for which financial reports are available.

    NDRC officials called on Pangda and Youngman to perform due diligence on Saab before pursuing their plans further, a source said. But NDRC has not indicated whether it might approve their proposed three-way deal.

    “NDRC perhaps hopes that Pangda and Youngman may eventually give up their decision to form a joint venture after finding the idea unworkable,” said an industry veteran familiar with NDRC. “In that case, there would be no need for the NDRC to reject the deal.”

    Meanwhile, car maker BAIC is lurking in the shadows. Its officials made no comment on the NDRC meeting, but a source close to the company said the Beijing-based auto maker hopes to establish a homegrown brand based on Saab technology it acquired.

    BAIC is also worried about losing a competitive edge if another domestic auto maker starts building Saabs in China, the source said.

    BAIC, which enjoys close connections to the Beijing city government, raised similar objections last year after China’s Geely Group bought car maker Volvo from Ford Motor Co. F -0.35% and unveiled plans for a production base in Beijing.

    BAIC builds Mercedes Benz cars in Beijing through a joint venture with Daimler AG DE:DAI +0.59% DDAIF +0.20% and apparently does not want a local rival for the capital’s luxury auto market, nor competition for policy from the city government.

    BAIC currently operates several joint ventures but has limited access to intellectual-property rights. Its deal last year for Saab technology was an attempt to change that.
  10. AX lover 3 juni 2011 11:33
    quote:

    schreef:

    Analysis: Saab-Pangda deal faces sobering regulatory test

    By Fang Yan and Ken Wills
    BEIJING | Thu Jun 2, 2011 11:36pm EDT

    (Reuters) - A well-heeled but little-known Chinese company has once again come to the rescue of a fading foreign auto brand: This time Pangda, a mainland auto dealer, has signed a 110 million euro ($157 million) pact with Dutch firm Spyker (SPYKR.AS) to keep its Saab brand on life-support.

    But now that the ink is dry and the champagne put away, the two sides face the sobering reality of one remaining, but knotty issue -- winning the blessing of the Chinese government.

    Winning that approval is always a daunting and opaque process, but the outcome this time is particularly uncertain and the decision could prove instructive for future suitors in the auto sector.

    Indeed, analysts studying the deal's fine print say a pact that adds one more niche player to China's burgeoning auto industry flies in the face of Beijing's goal of anointing just a few local champions that can compete on a global scale.

    "While the deal illustrates the value placed by Chinese companies on European brands, it is highly unlikely that the government will approve such an alliance when it works against China's policies to work toward fewer, stronger national brands," said William Russo, an industry veteran who runs a Beijing-based consultancy called Synergistics.

    Even so, both Spyker CEO Victor Muller and Pangda's top boss, Pang Qinghua, are optimistic as Pangda finishes its due diligence review of Saab.

    Saab's Trollhatten plant, which had been idle for six weeks after parts suppliers ceased delivery because of unpaid bills, is now up and running again after getting an initial 30 million euro injection from Pangda, a straight product-purchase part of the deal that did not require regulatory approval.

    Pangda is already contacting Chinese regulators, including the National Development and Reform Commission (NDRC), a powerful agency that will decide the fate of Saab. Pang said the talks had been held in "good spirit."

    The partners aim to set up a manufacturing venture in China within a year and have 50 Saab sales outlets in place before the end of 2011.

    "I am much more optimistic in this particular case that we would be able to get a positive decision," Spyker's Muller told Reuters shortly after announcing the Pangda deal. "We don't need that decision tomorrow. We have time to prepare any questions that the government may have and demonstrate that this is a proper investment.

    "In the worst case, we would have a fantastic distribution partner who would sell a tremendous amount of Saabs in this country," Muller added.

    Given its track record of handling Audi, Mercedes-Benz, Fuji Heavy Industries' (7270.T) Subaru and other foreign brands in China, Pangda would indeed be a good distribution partner, analysts say.

    It is Saab's local manufacturing ambition that remains a big question mark.

    www.reuters.com/article/2011/06/03/us...

    Deel 2 volgt zo
  11. AX lover 3 juni 2011 11:34
    quote:

    schreef:

    INEFFICIENT, UNFOCUSED BRANDS

    Even though China surpassed the United States as the world's largest auto market in 2009, China's indigenous auto industry remains weak and highly fragmented. Major Chinese cities are flooded with American, European and Japanese cars.

    There have been a few rising domestic stars, such as SAIC Motor Corp (600104.SS), but most home-grown players are still struggling to shed their image as makers of cheap, less-sophisticated models, popular only in smaller, less affluent inland areas.

    China could be a lifeline for bankrupt Western brands and a foreign tie may lend an obscure Chinese company more bargaining power amid the government-driven industry reshuffle, observers say.

    But a dying brand with a tally of a little over 30,000 units in 2010, roughly 2 percent of Audi's China sales for the year, adds little value to an industry already plagued by too many inefficient, tiny players.

    "Saab has been on the ropes for years," said Michael Dunne, president of industry consultancy Dunne & Co Ltd. "It's always been a quirky, niche brand that appeals to a narrow strand of loyal consumers. I'm not sure how much brand punching power Saab would offer a Chinese firm."

    The best solution for the Chinese auto industry is to foster a few big, strong players that have the potential to be the next success stories modeled after Toyota Motor (7203.T) and, most recently, Hyundai Motor 005380.SS, who first became dominant players at home and then moved abroad, observers say.

    "If you look around, all these big exporters need to be dominating in their home markets first, that's the normal rule," said Scott Laprise, China auto analyst with CLSA.

    "It's very rare that could happen if they are inefficient automakers or unfocused brands at home."

    SLOW, PAINFUL CONSOLIDATION

    Technocrats in Beijing have long envisioned having only a few big but strong national brands, but the industry is still crowded with more than 100 players, some making as few as several thousand units a year.

    Ultimately, China will have two or three big auto groups with annual production of more than 2 million vehicles respectively, plus four or five players making more than 1 million vehicles each, according to a blueprint unveiled in 2009.

    Consolidation, however, has been slow and painful due to foot-dragging by local governments eager to build their own auto kingdoms.

    Brilliance Auto in the northeastern province of Liaoning has successfully torpedoed years of relentless pursuit by larger rival FAW Group (000800.SZ) in the neighboring province, Liaoning's governor, Wang Min, told Reuters in March.

    Chery Automobile and Jianghuai Automobile (600418.SS), two mid-sized cross-province rivals in eastern China, are still locked in a head-to-head rivalry despite repeated merger calls by regulators.

    After two major reshuffles since 2007, China's top three auto makers, SAIC Motor (600104.SS), Dongfeng Motor Group (0489.HK) and FAW Group, still accounted for less than half of overall national sales in 2010. The ratio is 86 percent in Japan where Toyota alone had 53 percent of the car market.

    "China doesn't need more car companies. If we keep going through this process of all these foreign companies running into trouble and Chinese keep buying them, this probably is only going to prolong the pain it needs to go through in the consolidation," said CLSA's Laprise.

    MEDIA OUTCRY

    China's track record in overseas acquisition has been mixed at best.

    Regulators endorsed Geely's $1.5 billion Volvo takeover, which gives the Chinese full control of the famed Swedish marque, but they rejected an attempt by tiny machinery maker Sichuan Tengzhong Heavy Industries to buy the now defunct Hummer brand in 2009.

    In the case of Tengzhong, China's government-directed media gave hints about the outcome. One day after the Hummer deal was announced in June 2009, the state-run Xinhua news agency put out a harshly-worded commentary, warning Tengzhong and others of the consequence of "having their grand dream smashed to pieces" for rushing into dubious and risky deals.

    This time, Chinese media are equally critical of the Saab-Pangda tie as well as the earlier engagement with Hawtai that broke up after 10 days. Major financial newspapers and websites carried stories about the NDRC not being very supportive of the Saab tie-up, citing unnamed sources.

    Saab's best hope, observers say, is to bring on board a major state-backed Chinese auto group that would have bargaining power with regulators.

    But each of the top makers already teamed up with as many as three mainstream global players years ago and would not be easily lured into a Saab tie as a minority shareholder.

    Beijing Automotive Industry Holding Co (BAIC), which paid $200 million for some of Saab's old platforms in 2009, is seen as a possible candidate.

    "BAIC had a chance to buy the company earlier and decided against it. The feeling then was that it could build its own brand into something much more substantial than Saab," said Dunne & Co's Dunne.

    "If the price and terms now become super attractive, then you could see BAIC coming back for the brand."

    BAIC, which has invested billions to build its own upscale cars based on acquired Saab technologies, declined to comment.

    (Additional reporting by Tim Kelly in Tokyo; Editing by Matt Driskill)
    www.reuters.com/article/2011/06/03/us...
  12. AX lover 23 juni 2011 23:24
    quote:

    schreef:

    Interview: CEO of Pangda responds to questions regarding Saab

    By Carmen Lee, from Gasgoo.com
    Gasgoo.com (Shanghai June 23) - Pang Qinghua, CEO of the Pangda Automobile Trade Corporation, the company hailed as Saab's savior, had a short interview with the Beijing Times where he answered questions regarding Pangda's proposed partnership:

    Beijing Times: "When the four-way cooperation (between Pangda, Spyker, Saab and Youngman) agreed upon, what work needs to be done now?"

    Mr. Pang: "Currently surveys are still being conducted, [according to which] Saab is doing very well. After [that] is completed, the official signing ceremony will take place, [with the document] being sent to the National Development and Reform Committee. Pangda and Youngman will be very cautious about the application process."

    Beijing Times: "BAIC bought the intellectual rights to a part of Saab's technology in 2009, [now with] Pangda and Youngman about to bring over Saab models, is there any danger of copyright disputes arising?"

    Mr. Pang: "BAIC bought the rights to the old 93 and 95 platforms, which are currently used in a portion of Saab's vehicles, and will not be phased out of production until 2014. The vehicles we are bringing over this year include a number built on [those] platforms]. We have agreed to cooperate with BAIC and we hope that [we can avoid] any legal disputes from arising. Actually, if we sold only vehicles based on the 93 and 95 platforms, we would not infringe on BAIC's property rights."

    Beijing Times: "Youngman wants to cooperate with and control a part of Saab, are they thinking of using this channel to sell Youngman and Youngman Lotus cars?"

    Mr. Pang: "I don't know what Pang Qingnian [head of Youngman] is thinking. [As far as] I am the head of the sales division, I can state clearly, [we] will only sell Saab vehicles. [Even if] Pang Qingnian gives me non-Saab vehicles, I will not sell them."
    autonews.gasgoo.com/china-news/interv...

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