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Rescue Saab is in the hands of Chinese officials
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Rescue Saab is in the hands of Chinese officials
The once famous Swedish car brand that is throughout the year, it turns out, can still be saved. There were reports that in the coming days, the Chinese company Zhejiang Youngman and Pangda can translate 157 million euros, the Swedish brand to restart the pipeline. Recent reports on the cases of Saab were sad fiction as to the company's shareholders, and for fans of the brand. Losses in the first half of 2011-5th exceeded 200 million euros, and the company has no cash to pay the price to vendors and its own staff. Due to financial problems, the Swedish company has been forced to withdraw from the upcoming Frankfurt Motor Show. It seemed that the firm of Trol′hettana is rapidly approaching the abyss, but at the last moment literally shone hope for the best. China's largest automobile retailer company Pangda and industrial group Zhejiang Youngman are willing to pay for the Swedish accounts. In June, the company agreed to acquire 53.9% stake in Saab for 245 million euros. Moreover, if a deal to endorse the Chinese Ministry of economic development, in the coming days and Pangda Zhejiang Youngman are ready to take the 157 million required by Swedish brand, to restart the pipeline.
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