The Chinese promised to invest Skr8 extra Billions in Saab


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Thursday, 15 September 2011
Saab Automobile's Chinese partner, Youngman has really seen something unique about the brand and is working hard to keep the company.

The company along with Pang Da are willing to invest over Skr8 billion in the Saab.
“We are able to invest eight billion dollars to develop the Saab brand when we become a partner in the company. But it is of course not at once but step by step,” says Rachel Pang, president of Youngman Cars to Swedish business daily, Dagens Industri.

This is contained in agreement reached and which remain binding on 4 July. A deal under the terms of the agreement would give the two Chinese firms 54 percent of Saab.

But further investment of course requires that the Chinese government - and its super-ministry NDRC agree on the deal between Saab and Youngman / Pang Da something Rachel Pang seems to be hopeful about.

Apart from that two unions are now also that goes bankrupt. As Saab Automobile hopes that the Court of Appeal shall examine and approve a further reorganization. The documents have arrived and are treated with priority.

If Saab can get the Court of Appeal to believe in the new information from the China, it could increase its chances for reorganization.
But if the Court of Appeal rejects Saab application, the company’ll have not choice but to go bankrupt. Bankruptcy Negotiation is scheduled for September 26.

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