On the day the famous Saab Festival 2022 in Trollhattan begins, the Swedish government has announced that it is selling Orio AB, the exclusive global supplier of Saab Original spare parts. The Swedish government, as the majority owner of Orio AB, which was in charge of producing spare parts after the bankruptcy of SAAB Automobiles, has decided to sell the business worth 503 million Swedish kronor to Hedin Mobility Group AB.
Orio AB (Orio) was formed in 2009 in connection with Saab Automobile AB applying for a loan from the European Investment Bank, EIB with the Swedish government as guarantor of the loan. The subsidiary Saab Automobile Parts AB, now Orio, was pledged and taken over by the Swedish state from the bankruptcy estate one year after Saab filed for bankruptcy.
In 2013, the management of the shares in Orio was transferred from the Debt Office to the Government Offices. Since June 2013, the Government has authorized the Riksdag (the Swedish national legislature and the supreme decision-making body of Sweden) to sell the state’s shares in Orio.
According to the statements of the Swedish government officials, the move to sell the company Orio AB will have a favorable effect on this company, but also on the buyers of its products, and this primarily refers to Saab car owners who still need spare parts. “The Government’s view is that Orio, through a new owner, will have the opportunity to develop positively for the benefit of the company’s customers, employees and the municipality of Nyköping. We are therefore pleased to be able to hand over today to an owner who can develop the company further“, says Minister of Trade and Industry Karl-Petter Thorwaldsson.
Hedin Mobility Group AB acquires 100 percent of the shares in Orio
The total value of the transaction for the Swedish state amounts to SEK 503 million ($51.4 million), including dividends in connection with the transfer and an additional purchase price corresponding to the amount that Orio is expected to receive from SAAB Automobile Aktiebolag’s bankruptcy estate. The ownership of the shares in Orio will be transferred to Hedin Mobility Group AB on June 9, 2022.
Hedin Mobility Group AB is a large company operating in eight European countries and employs as many as 6,200 people. The company sells cars of as many as 36 different car brands, as well as leasing and short-term car rental. In addition, the company distributes car spare parts and e-commerce where it sells spare parts, cars and rents vehicles through websites.
