Chinese Volvocar Corp., owner, Geely interested in Saab automobile


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Saturday, 10 September 2011
The owner of Volvo Cars corpoaration, Chinese Geely has a spotlight placed on Saab Automobile, should the company go bankrupt.
The Swedish business dialy, Dagens Industry, reports that information they have come across show that Geely’s main shareholder, Li Shufu recently met with Saab's business development manager and expressed interest in parts of Saab automobile.

Among the assets that may be interesting to Li Shufu are the Saab brand, parts of its operations and service, writes the paper.

To be able to take over the brand, however, Geely will have to agree with defence company Saab and truck manufacturer Scania who both own the brand name Saab. In addition, as always, the Chinese authorities have to be persuaded to accept the deal.

But Li Shufu really is interested in taking over Saab, it would be easier from the Chinese side given that Geerly has money and connections and also there will be the expectation that China could benefit more in the form of technological transfer from the aero section the Saab operation.
By Team

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