In a short press release that was just made public the Swedish from Saab are announcing the fact that they have signed a momorandum of understanding through which they agree on selling all of their shares to the Chinese from Pang Da and Youngman.
The shares of both Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) will be sold to the Chinese from Pang Da and Youngman for 100 million Euros paid in installments, who agreed in providing long term funding to Saab.
The same release mentions that Mr. Guy Lofalk, the administrator in Saab Automobile’s voluntary reorganisation has withdrawn his application to exit reorganisation, so it look like it all turned out well for Saab, as the Swedish brand came close to extinction quite a few times.
Saab’s momorandum of understanding (MOU) is valid until November 15th.
28 Oct 2011
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