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Jun 21, 2011

Heineken shows no appetite for Foster’s counterbid

AMSTERDAM, June 21 (Reuters) – The world’s third-largest
brewer Heineken appeared to rule out a multi-billion
dollar counterbid for Australia’s Foster’s Group as it
said growth outside Europe would come from emerging markets.

The Amsterdam-based brewer of its eponymous beer, Amstel and
Dos Equis has made recent acquisitions in the emerging markets
of Mexico, Nigeria and Ethiopia, and analysts say it shows
little interest in the mature beer market of Australia.

Jun 21, 2011

Heineken focus on emerging markets, no Foster’s comment

AMSTERDAM (Reuters) – The world’s third-largest brewer Heineken (HEIN.AS: Quote, Profile, Research) said its focus outside its home base in Europe is on emerging markets, comments which appeared to rule out a counter-bid for Australia’s Foster’s Group (FGL.AX: Quote, Profile, Research).

“If you look at our expansion strategy, we see Europe as our home base. Europe is to a large extent mature, profitable, but a very mature market, so you see that the expansion we do outside Europe will be in emerging markets,” Heineken’s Chief Financial Officer Rene Hooft Graafland told Reuters in an interview.

Jun 17, 2011

Capital One to buy ING’s U.S. online bank for $9 billion

AMSTERDAM/CHARLOTTE, North Carolina (Reuters) – Capital One Financial Corp plans to buy ING Groep NV’s U.S. online bank for $9 billion in cash and stock, freeing the Dutch bank to repay bailout funds and sever its state ties.

ING is in the throes of a wrenching restructuring, forced on it as a condition of a 10-billion-euro state bailout during the 2008 financial crisis.

Jun 9, 2011

Saab halts output again, talks with suppliers

AMSTERDAM, June 9 (Reuters) – Struggling Swedish carmaker
Saab has halted output again while it talks with suppliers and
negotiates more funds, just days after ending a long stoppage,
Dutch owner Spyker (SPYKR.AS: Quote, Profile, Research, Stock Buzz) said on Thursday.

Saab shut down for most of April and May and only got output
going again on May 27 after reaching a deal with Chinese auto
dealer Pangda (601258.SS: Quote, Profile, Research, Stock Buzz) to buy 30 million euros worth of cars.
Pangda later signed up for 15 million euros more of vehicles.

May 16, 2011

Spyker turns to China’s Pangda for Saab rescue

AMSTERDAM (Reuters) – China’s largest listed car distributor has come to the rescue of Saab in a deal worth as much as 110 million euros, potentially staving off the collapse of one of Sweden’s best-known brands.

Spyker Cars (SPYKR.AS: Quote, Profile, Research, Stock Buzz), the Dutch owner of Saab, on Monday announced a deal with China’s Pangda Automobile Trade Co Ltd (601258.SS: Quote, Profile, Research, Stock Buzz) which it said would secure Saab’s medium-term funding needs.

Apr 29, 2011

Saab fans hope for turbocharged saviour

AMSTERDAM/STOCKHOLM, April 29 (Reuters) – For an enthusiast
like Karl Ask, you can never have enough Saabs.

The 23-year-old Swede has 11 already — including a Saab 93
and Saab 95, featuring the two-stroke engines — and has his eye
on the Saab 92, an earlier and rarer model.

Apr 29, 2011

Spyker can’t meet Saab target, taps owners, China

AMSTERDAM/BEIJING, April 29 (Reuters) – The outlook for
Swedish carmaker Saab deteriorated further on Friday as its
Dutch parent Spyker Cars NV (SPYKR.AS: Quote, Profile, Research, Stock Buzz) cut its 2011 target and
turned to shareholders as well as Chinese companies for funds.

Amsterdam-listed Spyker bought Saab from General Motors Co
(GM.N: Quote, Profile, Research, Stock Buzz) a year ago but has struggled to turn around the company.

Apr 11, 2011

Spyker in sale, leaseback talks to fund Saab

AMSTERDAM, April 11 (Reuters) – Spyker Cars (SPYKR.AS: Quote, Profile, Research, Stock Buzz), the
loss-making Dutch owner of Swedish car manufacturer Saab, is in
talks to sell and lease back Saab’s real estate so it can settle
a cash crunch and pay suppliers, the CEO said on Monday.

Spyker, which bought loss-making Saab from General Motors
(GM.N: Quote, Profile, Research, Stock Buzz) last year, has said the company is not facing collapse
but a short-term liquidity crunch.

Apr 1, 2011

Saab sees normal output after deal with key supplier

STOCKHOLM/AMSTERDAM, April 1 (Reuters) – Swedish car maker
Saab said on Friday that production would soon be back to normal
following a string of stoppages that have caused fresh concern
over the future of the iconic brand.

Saab’s reassurances came even as its Dutch owner, Spyker
(SPYKR.AS: Quote, Profile, Research, Stock Buzz), warned about uncertainties over funding requirements
in its annual report, released on Friday.

Mar 30, 2011

Spyker seeks to reassure on Saab finances

STOCKHOLM/AMSTERDAM, March 30 (Reuters) – Netherlands-based
Spyker (SPYKR.AS: Quote, Profile, Research, Stock Buzz) sought to reassure about the finances of its
ailing Swedish car maker Saab on Wednesday after it was forced
to halt output this week while it talked to suppliers over
payments.

The stoppage created fresh uncertainty over Saab, whose
long-serving chief executive unexpectedly announced his
retirement last week. [ID:nLDE72O0BW]

    • About Sara

      "Sara Webb, bureau chief for Indonesia, has lived in Jakarta since 2007. She has worked as a journalist in Asia, Europe and the United States."
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