According to Bloomberg reports, the financially troubled Swedish manufacturer Saab, has some potential investors interested in its crippled company. Pangda Automobile Trade Co., China’s largest auto dealer, and automaker Zhejiang Youngman Lotus Automobile Co. plan on buying a combined 53.9 percent stake in Saab. The companies will be seeking approval from China’s economic planning agency. The nearly 54 percent stake will cost the Chinese investors $245 million euros. Submission for approval of the deal is estimated to take place in two weeks.
Until approval is granted, Saab is hoping to stay afloat and out of bankruptcy with the help of some major loans. One loan of 1 billion kronor or $157 million, will be provided by a prominent European bank as early as today and will allow Saab to tread water a little longer.
Source: Automotive News
