- 24 Apr 2015 10:18 New asset management software launched by Bulb Software
- 22 Apr 2015 16:31 PSA Peugeot Citroën & IBM deepen partnership on connected cars
- 22 Apr 2015 16:24 Latest Euro NCAP results revealed
- 22 Apr 2015 14:21 Lexus reveals 2016 ES at Shanghai
- 22 Apr 2015 14:10 Audi produces first batch of e-diesel from water & CO2
Swedish Automobile N.V close to agreement with Pang Da and Youngman for Saab sale
Final agreement between the parties is subject to a definitive share purchase agreement between Swan, Pang Da and Youngman, which will contain certain conditions including the approval of the relevant authorities, Swan’s shareholders and certain other parties. The consideration of EUR 100m will be paid in instalments. An important consideration for Swan to enter into the transaction is the commitment of Pang Da and Youngman to provide long term funding to Saab Automobile.
The administrator in Saab Automobile’s voluntary reorganisation, Mr. Guy Lofalk, has withdrawn his application to exit reorganisation. The MOU is valid until November 15 of this year, provided Saab Automobile stays in reorganisation.