IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Monday, May 23, 2011

National Debt Office receives application to approve Pang Da as Saab part owner

Swedish Göteborgs-Posten reports that the Swedish National Debt Office (NDO) today received an application asking the NDO to approve Pang Da Automobile Trade Co. Ltd as shareholder of Spyker Cars (soon to change name to Swedish Automobile) and thus part owner of Saab Automobile.

"It's an application submitted concerning Pang Da who wants to buy shares in Spyker. In addition to the application itself we are now awaiting further information to be able to start our work." said Unni Jerndal Head of Communications at the National Debt Office.

To Bloomberg Daniel Barr, the official handling Saab’s case, said that a decision may take three or four weeks after a filing.

Earlier today it was reported that Pang Da was in talks with China's National Development and Reform Commission (NDRC) concerning the investment in Saab.

In other words, the wheels are on motion!