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.

Friday, October 28, 2011

Saab deal near - but deal raises reactions in Saab management

A solution is near according to a source with knowledge of the negotiation between Swedish Automobile and the Chinese companies Youngman and Pang Da over Saab.

"The Chinese side and Swedish Automobile have been discussing a new equity deal in the past weeks and are close to reaching an agreement now," the source told Reuters.

According to Swedish TV 4 Nyheterna Väst, a deal was reached late last night. A source said that the deal has "raised strong reactions in parts of the Saab management".

Swedish Radio P4 Väst reports that the purchase amount is around EUR 100 million.

Reuters reports that the Swedish Automobile shares have been suspended from trade on the Euronext - Amsterdam Stock Exchange.

The part about the management not being happy does not sound good. I guess we will know more after daybreak.