CORRECTION: An earlier version of this story misstated the investment figure
Russian banker and businessman Vladimir Antonov is prepared to invest up to 50 million euros in Saab after returning as a shareholder in Dutch group Spyker Cars NV, which bought Saab from General Motors Co. last year.
Spyker has struggled to make money and analysts say it needs a long-term strategic investor to restore Saab's fortunes. Spyker said last month it was selling off its luxury sports car business to Antonov, leaving it to focus on Saab.
"Mr. Antonov is prepared to invest up to 50 million euros in Saab and provide further support in the future for new models," Lars Carlstrom, a spokesman for the Russian businessman, told Automotive News Europe Thursday.
Spyker has forecast Saab sales of 80,000 vehicles this year and 120,000 in 2012 after selling 31,696 cars in 2010. Antonov said he saw Saab selling 60,000 to 65,000 vehicles this year, well below target.
Speaking in Vilnius, Lithuania, on Thursday, Antonov said Saab had enough cash if it managed to sell the number of cars it was targeting, but his 50 million euro investment would give the brand a "liquidity pillow."
Antonov was originally part of the deal for Spyker to buy Saab from GM, but had to quit the deal after facing allegations of money laundering, which he denied. He has said independent investigations have cleared his name.
He said the issue of his return to Saab had already been settled with General Motors, which has redeemable preference shares in Saab, and he was now in discussions with the Swedish state, which has guaranteed a 400 million euro European Investment Bank loan to Saab. "I expect the decision to be taken within a few months," he added.
