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- 30 Jul 2015 13:20 Chevin US expands into bigger office premises
- 30 Jul 2015 10:54 Tanguy van de Werve leaves Leaseurope to join AFME
- 30 Jul 2015 08:36 LeasePlan Italy inspected by local competition authority
- 30 Jul 2015 08:25 Fleetio launches fuel tracking app designed specifically for fleets
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 Guy Lofalk, has withdrawn his application to exit reorganisation.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.