- 13 Oct 2015 12:41 Fourth-generation Toyota Prius to bring 18% efficiency gain
- 13 Oct 2015 07:00 Under focus: the Czech automotive industry
- 13 Oct 2015 07:00 Road Test: DS 5
- 12 Oct 2015 14:29 Western European car sales up 9.4% in September, reports LMCA
- 12 Oct 2015 12:37 ‘Unrealistic’ emissions tests could make some diesel models ‘unaffordable’, say European carmakers
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 Guy Lofalk, has withdrawn his application to exit reorganisation.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.