Only days after Saab announced it had accepted a takeover offer from China’s Youngman and Pang Da, GM casts doubt on its viability. Selling Saab to China was always going to be fraught with difficulties. The initial deal Victor Muller seemed to have brokered with Youngman and Pang Da was to sell a majority stake in Saab […]
Saab China Deal: Chinese Government support ‘In Principal’
With the deal for China’s Youngman and Pang Da to take control at Saab outlined, the Chinese Government now says the approve of the deal ‘In Principal’. Yesterday we had the news that Pang Da and Youngman – the Chinese companies seeking to buy Saab – have outlined the investment they propose to make in […]
New Saab 9-3 leaks – Saab’s future?
What appears to be the first image of a new Saab 9-3 has leaked out on the day the Chinese reveal plans for Saab’s future. It makes a change to have a Saab story that isn’t more doom and gloom and financial meltdown, but it does seem a bit of a coincidence that an image of the […]
Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Reports from Sweden this morning claim that the new Chinese owners of Saab – Pang Da and Youngman – plan to invest $7.5 billion in the coming years. Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for […]
Saab reportedly sold to China’s Pang Da & Youngman for €100 million
Reports from Sweden this morning are claiming that Victor Muller has agreed to sell Saab outright to Pang Da & Youngman for €100 million. Update: Just minutes after publishing this story we’ve heard from Saab confirming this report is correct and that the administrator – Guy Lofalk – has withdrawn his application for Saab’s court protection […]
Saab China – Deal Dead
Saab has announced overnight that the deal with Youngman And Pang Da in China is terminated. Did we expect anything different? Saab has announced that the deal for Chinese companies Youngman and Pang Da to take a €245 million stake in Saab has been terminated. Saab say that they have terminated the agreement because Pang Da and Youngman have failed […]
Is Saab doomed because Victor Muller wants to have his cake & eat it?
As the Saab Saga gets sillier by the day, we wonder if Victor Muller is the destroyer of Saab, rather than its saviour? And of Spyker too? Victor Muller is a charming and charismatic man, as evidenced by the endless stream of seemingly sensible business people he’s persuaded to invest in Saab, and other Muller […]
Saab: Swedish administrator seeks to end court protection
The administrator of Saab’s court protection to allow it to reorganise its finances – Guy Lofalk – is seeking to end the protection. It’s a day and a half for Saab. But then, they are used to it. It’s been revealed that the administrator of Saab’s court protection in Sweden – Guy Lofalk – is to […]
Saab funding from China likely delayed. Gets loan from North Street Capital
Saab has revealed it doubts the funding from China will arrive on time and has taken a loan from Spyker buyers North Street capital. Last week we had Saab and their Chinese ‘backers’ getting in a bit of a muddle over funding. Which is what we’ve come to expect. Saab were adamant that the quote attributed to the Pangda […]
Saab gets small payment from Youngman after yesterday’s ‘misunderstanding’
Yesterday the Pangda Chairman said the Saab deal was no longer viable. Today, Saab confirms it has received the first payment from China’s Youngman What on earth are we going to do once the Saab Saga is resolved? The machinations and misunderstandings surrounding Victor Muller’s increasingly desperate quest to keep Saab alive has probably provided more stories […]