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, December 12, 2011

Youngman: "Deal close"

Earlier today it was reported that Swedish Automobile is preparing a bankruptcy application for Saab. It is unclear if the application will be handed in today or if it is only as a preaution should the negotations with Youngman not bear fruit. But it seems that Youngman still believes in a deal.

Rachel Pang, CEO of Chinese Youngman Automotives, has now according to Swedish news agency TT (as reported in TTELA) left Stockholm after intensive negotiations with Victor Muller. And to TT she says that the parties are close to an agreement and that money will be transferred to Saab.

"We will soon finalize our agreement," she said in a telephone interview with TT, but would not go into the details.

When asked by TT why the negotiations haven taken so long and when a deal will be finalized, she answered the following:

"It is a comprehensive agreement. We're working on finalizing it. It will be done."

"Money will be transferred to Saab," said Rachel Pang before hanging up.