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The Chinese not giving up despite GM defiance: Youngman close to Saab bid

Tuesday, 31 January 2012
The Chinese company, Youngman, is still determined to gather what is left of Saab automobile despite the intense rejection of GM to sell the licence to a secondary party.
Reports from Swedish business daily, Dagens industri, stress that the company is still working hard to get its hands on the bankrupt Saab Automobile, and that their drive is getting ever closer to placing a bid.

This week, a delegation from the company is coming back to Sweden to discuss trade issues according to confirmation from Kent Hagglund, co-administrators of the Saab bankrupt estate to the paper.
The core of the issues is that a Chinese bid for bankrupt Saab Automobile may now be very close. Youngman's leadership will, according radio Sweden and, the news paper, TTELA, arrived in Stockholm on Monday with the goal to make an offer.
Youngman’s visit is confirmed by Kent Hagglund, attorney at the law firm, DLA Nordic, who was appointed to co-administer the Saab bankruptcy process in mid-January and in charge of the issues in the bankruptcy proceedings related to the brand.
A delegation of five to seven people from Youngman is reported to be coming to see him later this week, according to Dagens Industri.
"They want to present themselves and how they think about the management of the brands and its subsidiaries. Saab AB and Scania are also interested in knowing how the trademark will be taken car of and managed - and that's what they'll explain, "says Kent Hagglund.
How the Saab brand may be regulated by agreement between the defense company Saab, car manufacturer Saab Automobile and truck manufacturer Scania, which we have recently written about in the past is a matter of wait and see.
By Scancomark.se Team

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