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.

Tuesday, November 29, 2011

Lofalk and ambassador talk to GM, as new party might enter the field

According to TTELA, Saab's court appointed administrator of the reconstruction process, Guy Lofalk, is in the USA to meet representatives from General Motors (GM). He is currently in Washington with Sweden's ambassador to the USA, Jonas Hafström, and together they will try to convince GM to accept the deal where Saab is sold to China.

Furthermore, Dagens Industri reports that sources say that a third party is also possibly coming into the deal where Saab is sold from Swedish Automobile to Chinese parties. By allowing a third party into the deal, and at the same time reducing Youngman's stake so that the company does not become majority owner of Saab, the Chinese hope to construct a new deal that GM can accept.

According to DI, GM objects Youngman becoming majority owner of Saab, and at the same time China's National Development and Reform Commission (NDRC) request that the Chinese take full ownership of Saab in order to approve the deal. By introducing a third owner the Chinese hope to please both GM and the NDRC.

The Chinese are said to explore the possibility for regional Chinese state funds to take part of the deal. Talks are probably being held with funds in the Ordos province in Inner Mongolia, where Youngman has factories located.