Tag Archives: spyker cars

Saab Saved from Liquidation by Two Chinese Companies?

Posted on 31 October 2011 by Ken Zino

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 →

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Saab Files for Bankruptcy in Sweden. State to Pay Workers

Posted on 7 September 2011 by Ken Zino

In the months ahead, the Swedish government will pay Saab’s 3,700 workers while a reorganization plan is debated. Saab suspended worker payments in July, as the company only sold fewer than 13,000 automobiles and posted a loss of -€201.5 million during the first half. The grim reality is that Saab Automobile after decades of losses, changes of ownership and financial engineering has limited financial resources and options remaining. Continue reading →

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