acquisitions


REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab

A major hurdle in Saab's transfer to the homegrown hands of Sweden's Koenigsegg has been surmounted: the Swedish government has agreed to guarantee a 4.3 billion kroner ($615M U.S.) loan from the European Investment Bank to the Koenigsegg consortium. That represents the final funding the maker of the CCX needs in order to compete the financing of the deal. The next hurdle is for the European Investment Bank to consent to give Koenigsegg the money. A Swedish government representative said he hoped the EIB would decide before the end of ... Read more →

REPORT: Fiat to close Bertone purchase this week Jonathon Ramsey

On Thursday, Fiat is expected to put its John Hancock on a preliminary agreement to close its purchase of Carrozzeria Bertone, the coachbuilding arm of the Bertone company. In August Fiat won the ...

REPORT: Tengzhong deal for Hummer expected to close in Q3 Jonathon Ramsey

Slowly clearing one obstacle after another, Tengzhong is closer to sealing the deal to buy Hummer from General Motors. Chinese reports have come almost completely around, from the nearly certain "No" ...

Did you think the VW-Porsche deal was done? Nein. Jonathon Ramsey

When Volkswagen and Porsche sat down at dinner to discuss which one was going to eat the other one, they forgot to invite the German tax man. After VW came to terms with Porsche to take a 49.9% stake ...

Porsche's Wiedeking tipped to get $140M golden parachute? Jonathon Ramsey

If the rumored deal for Volkswagen to consume Porsche is indeed accurate, then there are only two things left: the shouting, and the sound of Porsche CEO Wendelin Wiedeking departing his post in a ...

REPORT: German union leader calls on Porsche CEO to end ego trip, merge with VW 4 months ago on Autoblog

Volkswagen labor union chief Bernd Osterloh has called out Porsche's CEO for holding up a merger between the two German automakers: "Together, one could do a whole lot of more things if [Wendelin] Wiedeking would end his ego trip." Osterloh believes Wiedeking is standing in the way of a tie-up with ...

Porsche denies rumored plans to sell itself to Volkswagen and swap CEOs 7 months ago on Autoblog

Here at Autoblog reports regularly cross our desks suggesting all sorts of contorted deals supposedly being brokered between automakers. This one's in bed with that one, that one's selling the other but retaining a minority interest, another one's starting a joint venture with yet another while ...

Porsche stake in VW unlikely to change soon; a new "VW law" could return 1 year ago on Autoblog

The so-called "VW law" was struck down by the European Court last October. Previous to that, the state of Lower Saxony was able to veto any Volkswagen shareholder action it didn't like. When the law was struck down it looked like the Lower Saxony had no choice but to watch Porsche, which had been ...

Ford to Tata: $2 billion is just the beginning for Jag and Land Rover 1 year ago on Autoblog

Not that anyone will be surprised, but Tata (nor any winning bidder, if not Tata) can't simply send Ford a money order for $2 billion and have Jaguar and Land Rover delivered to its door. Jaguar and Land Rover are so tied up with Ford that "the buyer of the brands would ... need Ford's research ...

Ford offers $78 million for Romanian auto maker 2 years ago on Autoblog

When the Romanian government put a 72-percent stake in Automobile Craiova SA on the block, it got one bidder: Ford. The Blue Oval first offered fifty-five million euros in July, then upped it to fifty-seven million euros, which equals $78 million dollars. Before the government stepped in, Craiova ...

Ford fears add complexity to Jag and Land Rover bidding 2 years ago on Autoblog

Those of us outside of Ford have little idea about what Ford is really planning to do with its remaining PAG brands, Jaguar, Land Rover, and Volvo. If nothing else, it does seems clear that Ford wants to get rid of Jaguar and Land Rover at something above fire sale prices, and it would like to keep ...

BMW acquires Husqvarna 2 years ago on Autoblog

It's no secret that BMW is open to procuring more brands. With the company's purchase of Italian motorcycle maker Husqvarna, it's apparent that the roundel's expansive mood isn't limited to cars. BMW bikes, notable for their transverse heads, are larger bore bikes, with the smallest being 500cc. ...

Cerberus snag digesting Chrysler? 2 years ago on Autoblog

The euro has reached a record high against the dollar, and that is partly to blame for rumors of Cerberus' difficulty in getting the money to pay for Chrysler. Cerberus is paying DaimlerChrysler $7.4 billion for 80.1% of Chrysler Group, but it is trying to borrow $20 billion. With interest rates on ...

Porsche borrows 10 billion euros to buy VW 2 years ago on Autoblog

Porsche is not going to let up on its acquisition of VW. The Stuttgart maker of neun-ein-eins has tapped into a network of 37 lenders for a $13.7 billion loan to finance its purchase of VW shares. The money will go to pay for outstanding Volkswagen shares, since VW shareholders only offered up ...

Magna in the market for Land Rover and Volvo 2 years ago on Autoblog

According to UK magazine Autocar, Magna is looking into the purchase of Land Rover and Volvo. Magna, you'll remember, was in the market for Chrysler, and was for a time the frontrunner -- until all of a sudden it wasn't and the company went to Cerberus. While everyone knows that Jag and Land Rover ...

AB Volvo to buy back Volvo? 2 years ago on Autoblog

Just as the sale of Chrysler to Cerberus cleared a major hurdle yesterday, Ford has come to occupy the automotive soap opera stage with the sale of its PAG brands including Volvo, Land Rover and Jaguar. According to Swedish news reports, the newest dark horse candidate interested in the Premiere ...

Acquisition and mergers and joint ventures, oh my! 3 years ago on Autoblog

Forbes automotive columnist Jerry Flint provides a history lesson of various automotive couplings and even triads to illustrate that while a few have been beneficial to one or (rarely) all parties, most fall flat on their faces. None, however, are easy for any of the parties, successful or not. ...






Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

 
 

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