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Saab signs contract worth €70 million


  

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Monday, 12 September 2011
Saab Automobile has completed an agreement whereby the company's Chinese partner Youngman, will lends EUR70 million, just over Skr620 million to her.

Youngman gets in return some of the rights to the new platform that Saab is developing.
The deal is part of a so-called mezzanine financing to help Saab in the short term and for the company to have money for a re-organisation.

However, reports hold that all is not clear. According to the press release, Youngman is still working with the completion of the transaction.
The intention is that the loan be paid back when Pang Da and Youngman have bought into the Swedish Automobile of €245 million - a deal that must first be approved by, among other authorities in China and Sweden.
By Scancomark.se Team


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