TV4 report about a sale of Saab to Pang Da and Youngman

Just found that on sverigesradio.se

Swedish Automobile have agreed with the Chinese companies Youngman and Pang Da to sell Saab Automobile, according to sources of P4 West.

At Saab’s information department were few comments.

– When something concrete comes out of the negotiations and we’ll tell it through a press release, says Gunilla Gustavs to P4 West.

Reportedly, the parties agreed late last night. According to data for P4 West would purchase price to be 100 million.

That the negotiations dragged on yesterday might explain to Saab Automobile failed to keep the deadline the district court in Vanersborg had set.

Before the bell 13 Saab would be received with a request to continue the reconstruction and to replace the administrator Guy Lofalk, but no sign of life came from the company.

Just before closing time announced, however, Saab’s general counsel Kristina Geers negotiations between Saab and the Chinese companies Pang Da and Youngman was critical to Saab’s position on the issue.

Now that the negotiations are completed is a statement from Saab to the district court in Vanersborg expected later today.

For the moment let’s keep calm. This is quite emotional for some of us but let’s wait an official press release. And not to forget: the last word on this has GM.

tobbe
Member
4 years 10 months ago

F5-button on alot of newspage this day… 🙂

TurboLamko
Member
4 years 10 months ago

Hopefully that will save Saab now 😀

I am not cheering yet about this! Will still be waiting.

Troels, Denmark
Member
4 years 10 months ago

The most important thing is if Saabs future in Trollhättan are saved – and the Saab-spirit and integrity kept alive.

tobbe
Member
4 years 10 months ago

+1

hilmar
Member
4 years 10 months ago

+1

jouni72
Member
4 years 10 months ago

+1

DUTCH900C
Member
4 years 10 months ago

+1

900 classic cab
Guest
4 years 10 months ago

+1

Peter, Sweden
Member
4 years 10 months ago

+1

welshwizard645
Member
4 years 10 months ago

Not only GM but Saab Aerospace and Skane District too for the naming rights? There may be a condition that manufacturing and development must continue in THN to preserve the brand name.

Bravada from GMI
Member
4 years 10 months ago

Umm… Hooray?

Why did we have to wait 2 years for that :/

Bravada from GMI
Member
4 years 10 months ago

Can we start an online petition for Pang Da and Youngman to re-hire JAJ as CEO? Or better yet, JAJ appreciation convoys?

RS
Member
4 years 10 months ago

+1

fido
Member
4 years 10 months ago

+100
Youngman & Pang Da need a Western Man to drive SAAB.

The best choice is JAJ.

TurboLamko
Member
4 years 10 months ago

If the Volvo managed with the chinese, Saab will do it too 🙂

thor
Member
4 years 10 months ago

http://www.volvocars.com/intl/top/about/corporate/pages/management-team.aspx

Here you can read that the volvo ceo is stefan jacoby sounds not like a chinese men

thor
Member
4 years 10 months ago

the volvo ceo is stefan jacoby sounds not like a chinese men

TurboLover
Member
4 years 10 months ago

Nope, he is German

Lyss
Member
4 years 10 months ago

I found a similar message on reuters.com. Don’t know if I can post a link here, but the main lines read like this:
“Pang Da Automobile Trade Co (601258.SS) and Zhejiang Youngman Lotus Automobile Co are close to reaching a deal with Swedish Automobile (SWAN.AS) for a possible takeover of Saab, a source with knowledge of the matter said on Friday.”
Source not specified however …

Ken H
Member
4 years 10 months ago

Reportedly, the parties agreed late last night. According to data for P4 West would purchase price to be 100 million.

The original article says it is 100 million EUR.

Tim
Member
4 years 10 months ago

According to Dow Jones Newswires SWAN is talking to Pang Da (and Youngman?) about a full take over of Saab Automobile. They have also spoken to mr. Wang Yin of Pang Da. He says it’s still unknown when the discussions will be finished.

fido
Member
4 years 10 months ago

so, no news about North Street Captical.

Lyss
Member
4 years 10 months ago

And that I consider a bit disturbing: were NSC only brought in to force PD & Y back to the negotiating table?

RS
Member
4 years 10 months ago

And GM decides Saabs faith again. Dear god.

thor
Member
4 years 10 months ago

… better Money from china as no money for GM if Saab goes bankcrupt

Niklas G
Member
4 years 10 months ago

+1

Pity though IF this rumour is true AND means that we never will see the 9-1 Muller was fighting for. More focus now on making larger Saabs for the Chinese market if Y & PD are 100 % owners, perhaps?

fido
Member
4 years 10 months ago

Youngman already describe their plan.
9-1 vs BMW Mini
9-6 vs BMW X6
9-7 vs BMW 7

so the product range will be 9-1, 9-3, 9-4x, 9-5, 9-6, 9-7.

BMW mini sell very well in china, No competitors. Fiat 500 came in China last month.

TurboLover
Member
4 years 10 months ago

Interesting!

tobbe
Member
4 years 10 months ago

“Release Me” as Oh Laura sang for one of Saab ads on TV.
Release Saab from GM, EIB and everone!

ante
Member
4 years 10 months ago

Swan stock stopped!

TurboLover
Member
4 years 10 months ago

Great news, but what about VM? I hope he will have some role in this in the future?

Saab up!

Coke is it
Member
4 years 10 months ago

SWAN is halted at Amsterdam stock exchange and it is not being halted due to unusual market activity this time (it’s usually halted when the price rises / falls rapidly).

It could be SWAN that has asked for the halt until the official announcement comes.

I feel good news is in the air 🙂

Coke is it
Member
4 years 10 months ago

Now di.se writes about the halted stock.

jos
Member
4 years 10 months ago

If this turns out to be true, it’s good news. At least something is happening and we’ll have a financially strong owner that will secure the production at Trollhättan. At least for a couple of years (you’ll never know).

I have a question. Will SWAN get the entire 100 million euros or are they obligated to pay the creditors first? They’re rich.

obelix
Member
4 years 10 months ago

SWAN borrowed money to acquire Saab from GM (from VA amongst others). With the proceeds of the sale he can pay those debts back. I’m not sure how high those debts are, though, and if € 100 million will be enough.

turbokalle
Member
4 years 10 months ago

Did the rollercoaster just come down from its last hill approaching the station waiting for new passengers to come on board? Personally, I`d like another ride, but a lot smoother thanks!

Tim
Member
4 years 10 months ago

Dow Jones Newswires writes Guy Lofalk has withdrawn his request to end the reconstruction…

Tim
Member
4 years 10 months ago

The Dutch financial authority (AFM) has suspended trading in SWAN because it expects a press release today.

obelix
Member
4 years 10 months ago

DOW JONES newswire reports GL has withdrawn the application to end reconstruction….

TurboLover
Member
4 years 10 months ago

Yehaaaaaaaaaaaaaaaaaaaaaaaaaaa!

skwdenyer
Member
4 years 10 months ago

I can’t help but feel that the good readers of SaabsUnited may not be altogether united by this news, if it is true.

Niklas G
Member
4 years 10 months ago

It would stir up some mixed feelings for sure, but I think everyone would agree that it is great if this finally will restart production. 🙂

Audun
Member
4 years 10 months ago

If the production start soon, it’s great. But I think many will follow the new SAAB as close as possible to make sure that the SAABs will be SAABs in the future.

Audun
Member
4 years 10 months ago

+1

Saabim
Member
4 years 10 months ago

Does it be a good news? I don’t think so as I’m positive thinking.
China presents: All new XXX Turbo 7XXX Hatch made in China. I don’t think the Saab will stay in Trollhattan. Maybe for short period only. Business is business. And what about North Street Capital? It seem’s the adventure goes on.

Tim
Member
4 years 10 months ago

Dow Jones seems to have spoken to VM. He confirms Pang Da and Youngman will take over 100% of Saab Automobile.

Jos
Member
4 years 10 months ago

I take a deep bow for Victor Müller, if this works out we can remember him as the person who picked up SAAB as they were put overboard by sinking GM, left to drwon, and brought it into a safe haven… This guy has my deepest respect, honestly.

jouni72
Member
4 years 10 months ago

For me VM is a Hero. He is the man who saved SAAB.

Niklas G
Member
4 years 10 months ago

+1

Saabim
Member
4 years 10 months ago

1+

Mark
Member
4 years 10 months ago

Unless it gets ongoing guarantees about it’s IP, GM could well prove to be a fly in the ointment. It certainly didn’t make the sale of Saab very easy last time. I don’t expect it to this time either.

skwdenyer
Member
4 years 10 months ago

+1 My understanding was that GM were not at the table here.

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