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Re: GM and Saab
Posted by Gary Stottler (more from Gary Stottler) on Mon, 3 Jan 2000 21:59:20
In Reply to: , Kok Chen, Sat, 17 Dec 1988 12:00:00 

The Saab Car Division of Saab AB was sold by Saab AB in 1989 to a newly 
formed joint venture company called Saab Automobile AB which is 50% owned 
by Investor AB and 50% owned by GM.  5 of the 10 board members are 
appointed by GM and 5 by Investor.  The chairman/CEO (Bob Hendry, at the 
moment) is appointed by GM.   At this point the only relationship between 
Saab Automobile AB and Saab AB is in the eye of the marketing man (notice 
that 'aircraft heritage' doesn't imply any current relationship) and in the 
fact that shares of both companies are owned by Investor AB. There is no 
direct relationship between Saab the aircraft company and Saab Automobile 
the car company. Under the current agreement between Investor and GM, GM 
has until 1/31/00 to buy the remaining 50% of Saab Automobile from Investor 
at a previously agreed upon price.  If GM declines to do so, Investor may 
force GM to buy half its share (leaving GM with 75%) at some other fixed 
price.   At this point, I can't see why GM would do the latter unless they 
(they being the board of directors and strategy board) thought that Saab 
was going to go belly up.  I'd like to think that Saab will succeed as a GM 
company as have Opel, Holden, and so on.  In any event, 1/31 isn't far 
away, so we should know soon.  I plan on attending the Saab press 
conference at the Detroit Auto Show next week, so will let you know if I 
hear anything.

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