BAIC are still on board with Saab sale, despite delays
November 11, 2009 in News
There’s a short quote in today’s news services from Wang Zadong, the head of Beijing Automotive (BAIC).
The stories in Automotive News, on Reuters and Forbes websites all say the same things, that work on the deal is proceeding and in an orderly manner, and that they all look to have the deal done by the end of this year.
In the absence of other hard news on the subject, it is perhaps reassuring to hear that things are proceeding as planned.
Koenigsegg Group and Saab had hoped to have this deal done by now, but delays in the EIB loan application a few months ago and the current delays with the EU decision on state aid mean that closure of the deal has been delayed.
These delays could have caused BAIC to lose interest or patience with the process, but it seems they’re still on board.
