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Tag Archives: pang da
Saab Files for Bankruptcy. It’s All Over Except for Mourning
The end of Saab was practically assured last Saturday when General Motors reiterated a long-standing position against Saab transferring GM intellectual property to the Chinese and having Chinese companies build a rebadged Cadillac SRX as a Saab in China. GM is the largest automaker in China, albeit with communist government dictated partners. Continue reading
Posted in auto news, economy, financial results, news, news analysis, results
Tagged auto informed, auto tariffs, autoinformed.com, automotive news, chinese auto industry, GM, Ken Zino, pang da, saab, saab bankruptcy, spyker, swan, trade, wto, youngman
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Saab Saved from Liquidation by Two Chinese Companies?
This latest episode in the ongoing Saab story (NYSE Euronext Amsterdam: SWAN) is likely not the final one in a long running thriller over the future of the former General Motors subsidiary. The proposed Chinese ownership agreement is subject to a final share purchase agreement between Swan, Pang Da and Youngman. In a statement, Swan said it will contain “certain conditions including the approval of the relevant authorities, Swan’s shareholders and certain other parties.”
Furthermore, the €100 million will be paid in installments. An important consideration for Swan to enter into the transaction is the commitment of Pang Da and Youngman to provide long term funding to Saab Automobile. Continue reading
