Home » News » Saab » Saab Sold to the Chinese from Pang Da and Youngman

In a short press release that was just made public the Swedish from Saab are announcing the fact that they have signed a momorandum of understanding through which they agree on selling all of their shares to the Chinese from Pang Da and Youngman.

The shares of both Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) will be sold to the Chinese from Pang Da and Youngman for 100 million Euros paid in installments, who agreed in providing long term funding to Saab. 

The same release mentions that Mr. Guy Lofalk, the administrator in Saab Automobile's voluntary reorganisation has withdrawn his application to exit reorganisation, so it look like it all turned out well for Saab, as the Swedish brand came close to extinction quite a few times.

Saab's momorandum of understanding (MOU) is valid until November 15th. 

Saab Sold to the Chinese from Pang Da and Youngman
 

Related Articles

Leave a Comment

Fields marked with * are required
Name *:
Email *:
Comment *:
Code *:
  CAPTCHA
  • Email
  • YouTube
  • RSS
  • Twitter
  • facebook
  • feedburner

Related Specs

  1. 1993 Saab 9000 Aero

    Engine: Turbocharged Inline-4, Power: 167.8 kw / 225.0 bhp @ 5500 rpm, Torque: 349.8 nm / 258.0 ft lbs @ 1950 rpm
  2. 1985 Saab 900 Turbo EV-1 Concept

    Engine: Turbocharged Inline 4, Power: 210.3 kw / 282.0 bhp @ 6500 rpm, Torque: 334.0 nm / 246.3 ft lbs @ 3500 rpm
  3. 2000 Saab 9-3 Aero Coupe

    Engine: Turbocharged Inline-4, Power: 152.9 kw / 205.0 bhp @ 5500 rpm, Torque: 280 nm / 206.5 ft lbs @ 2200 rpm
  4. 2003 Saab 9-3 Hatch Concept

    Engine: GM L850 All Aluminum Inline -4, Power: 186.4 kw / 250 bhp @ 5500 rpm, Torque: 350 nm / 258.1 ft lbs @ 2500 rpm
  5. 1999 Saab 9-3 Viggen Coupe

    Engine: Turbocharged Inline-4, Power: 167.8 kw / 225.0 bhp @ 5500 rpm, Torque: 342 nm / 252.2 ft lbs @ 2500 rpm

New Vehicles

Hyundai i30 N Line starts at £21,255 in UKHyundai i30 N Line starts at £21,255 in UK
After a long wait, Hyundai is finally making the most of its new N Performance division. The South-Korean manufacturer has officially announced the pricing ...

Concept Cars

Volkswagen Atlas Tanoak pick-up conceptVolkswagen Atlas Tanoak pick-up concept
Along with the new Volkswagen Atlas Cross Sport Concept, the German producer is also launching a pick-up concept during this year New York Auto Show. ...

Custom Cars

Ford Focus ST diesel gets a Mountune kitFord Focus ST diesel gets a Mountune kit
Even Ford Focus ST can have a power bump. And not only the gasoline version. Also the diesel can have a power bump thanks to a recent Mountune kit launched ...

Future Cars

Audi E-Tron prototype recuperation capacity is uniqueAudi E-Tron prototype recuperation capacity is unique
Audi is making final preparations ahead of its first electric SUv launch. It is going to be one revolutionary vehicle, as the latest press release states. ...

Market News

Mercedes reached record sales this yearMercedes reached record sales this year
Mercedes enjoys fantastic sales also in 2018. A good news, considering its close rivalry with BMW and the gap between them. ...

Gadgets

Seat launches Amazon Alexa in its carsSeat launches Amazon Alexa in its cars
After it announced that its Digital Cockpit is now available on the Ibiza and Arona, Seat is making another major step in terms of technology. SEAT is ...

Various News

Motorsports

Aston Martin Vantage GTE will be seen in flesh and bones during the 24 Hours of Le Mans raceAston Martin Vantage GTE will be seen in flesh and bones during the 24 Hours of Le Mans race
Aston Martin will return this year at the 24 Hours of Le Mans Race with the new Vantage GTE model. Under the hood of the car is the same V8 4.0 liter ...

Videos

Have you ever wondered how long it takes for a chocolate dog to melt in a hot car? Here is the answerHave you ever wondered how long it takes for a chocolate dog to melt in a hot car? Here is the answer
The U.K.'s Automobile Association has highlighted the dangers of leaving pets in hot cars by filming a special video. In the video below you will see ...