Saab CEO Muller planning to tell investors in May if he intends to list the company

Article by Christian Andrei, on January 6, 2011

Victor Muller, the CEO of Saab Automobile's owner, Spyker Cars N.V., said that the company plans to tell shareholders in May 2011 whether it plans to list the company on the Swedish stock exchange.

Muller said that Spyker doesn’t intend to issue more shares because the company “[doesn’t] need the money” but he doesn’t discount the possibility of needing to do so for “future funding.” He added that the Stockholm exchange may be a better market if the company decides to raise funds in the future.

As of Sept. 30, 2010, Spyker had EUR81 million ($108 million) in cash, excluding EUR114 million in “restricted” cash set aside for liabilities such as pensions.

The company reported a net debt of EUR82.5 million at the time. In September 2010, Muller said that Spyker may add a listing in Stockholm to its Amsterdam Euronext trading by April 2011.

He recently said the annual shareholders meeting in May 19, 2011 may be an “ideal forum” to look at what the company is thinking when it comes to the dual listing.

A Dutch super-car maker, Spyker bought Saab from General Motors Co. for $400 million in cash and preferred shares in February 2010, as Saab was on the verge of shutting down. By 2012, Saab aims to sell 120,000 cars and become profitable. [via autonews - sub. required]

Topics: saab, spyker

If you liked the article, share on:


Login or Create new account to add a comment!


Starting early 2017, the new Audi Q7 will be available with the new 2.0-liter TFSI four-cylinder engine that makes it not only faster but also lighter and more efficient than...
by - October 25, 2016
Soon, Fiat Chrysler’s Dodge brand will be ending the production of the Dodge Viper. So practically, the 2017 Dodge Viper will be the last Viper up for grabs. Gerry Wood...
by - October 25, 2016
Say hello to the fastest accelerating production car in the world: the new 2017 Tesla Model S P100D. Powered by a 100 kWh battery, this new model basically outruns almost...
by - October 25, 2016
Ever heard of the “Lynk & Co” automotive brand? Well, it is highly likely people haven’t. This is practically because this is new brand created by the joint venture between...
by - October 25, 2016
Mitsubishi is now officially part of the Renault-Nissan alliance after Nissan took over the Japanese car company recently. We know a lot has been happening in the car industry, but...
by - October 24, 2016