According to an article in TTELA today, sources told the newspaper that the bid placed by NEVS Consortium is worth 1,5 billion SEK, which is 3,1 billion less than Youngman’s bid, HOWEVER the big issue about Youngman for the administrators is Youngmans ability to to fulfill their payment obligations. As the administrators can be held personally accountable for choosing selecting a company not being able to fulfill its promises in terms of payment and obligations, its not surprising that the administrators are hesitant about Youngman. The administrators must at such do a lot of research into the companies abilities to pay, in order to justify their choice of buyer for Saab, its a story we’ve heard before called “fully funded business-plan”.
Youngman created somewhat of a bad reputation for itself by not being able to delivery money on time or at all, during their work with Saab Automobile’s last 6 months. This is now haunting them as the bankruptcy administrators question their payment abilities according to TTELA.
Regarding Mahindra, SU has now learned from two different sources that they “went silent” about 4 weeks ago and have more or less withdrawn from the process.
So this means or Youngman or NEVS will win the deal, it’s among two Chinese competitors.