Pang Da Still Interested In Saab

Pang Da Still Interested In Saab
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It seems like there’s more people involved that are interested in saving Saab than there are interested in purchasing their vehicles. Nonetheless, the drama continues to unfold as we reported yesterday that the Bank of China would come to save Saab, but the Chinese firm Pang Da is still expressing interest. Pang Da is still… Continue Reading...

Chinese Buyers Pledge $850M in Long Term Saab Funding

Chinese Buyers Pledge $850M in Long Term Saab Funding
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After much back and forth over the past months between Swedish Automaker Saab and Chinese suitors Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., it seems like funding for Saab is very much back. The Chinese companies have both agreed to buy the Swedish automaker, providing the company with some much needed… Continue Reading...

Saab To Get $70 Million Lifeline From Private Equity Firm

Saab To Get $70 Million Lifeline From Private Equity Firm
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U.S. private equity firm North Street Capital will give Saab a $70 million investment, including an equity stake worth $10 million and a $60 million loan to the ailing car maker. With Chinese-backed financing looking increasingly unlikely, the investment from North Street Capital, a firm run by auto enthusiast Alex Mascioli, will give Saab the… Continue Reading...

Saab Administrator In Charge Of Bankruptcy Proceedings Wants Out

Saab Administrator In Charge Of Bankruptcy Proceedings Wants Out
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The administrator in charge of the Saab bankruptcy proceedings has told a Swedish court that the process must stop. “The money is not enough to continue the reorganization,”said Guy Lofalk in an interview with Reuters. “Now, an application [to terminate the reorganization] has been mailed. It should be on the court’s desk tomorrow.” Lofalk said… Continue Reading...

Saab Sells 582 Cars to Chinese Buyer to Cover Payroll, Bankruptcy Still Looms

Saab Sells 582 Cars to Chinese Buyer to Cover Payroll, Bankruptcy Still Looms
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According to an official release by Saab Automobiles, Russian businessman Vladimir Antonov is still very much interested in pour money into the ailing automaker, but was awaiting clearance from the Swedish National Debt Office. Continue Reading...

Saab Chinese Funding Deal Means Spyker Gets Name Change

Saab Chinese Funding Deal Means Spyker Gets Name Change
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As part of Spyker’s capital-raising efforts for its ailing Saab brand, the Dutch automaker is entering into talks with Chinese automotive company Pang Da, and will have to rename itself as Swedish Automobile N.V. as part of the deal. In return, Saab will get a $42 million cash payment, ostensibly to help pay Saab’s substantial… Continue Reading...

Saab’s Production May Resume By Next Week

Saab’s Production May Resume By Next Week
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Saab has been surrounded by general corporate uncertainty and financial trouble over the last few weeks. The failed deal with China’s Hawtai Motor and Saab’s $100 million payment mishap with its parts suppliers have taken a toll on the Swedish automaker however the company may have a second chance. Saab announced on Thursday that it… Continue Reading...