November 23, 2011 in Uncategorized
Ttela.se reports that Pang Da and Youngman are optimistic to strike a deal by Friday, 25th:
It’s Automotive News China, which reports on a continued hope for Chinese companies, Youngman and Pang Da that manage to get GM on its side in the Saab deal. The intent of the parties signed would be binding on November 15 but will now be extended until 25 November, ie this Friday.
The interesting info is that the MOU will be extended until Friday. This, in combination wit Youngman sending money to Saab to pay the wages, indicates that the Chinese are pretty optimistic about the case.
I’d tend to think that the new offer contained some serious efforts since GM’s spokesman James Cain confirmed that there will be no ok for a 100% takeover by Pang Da and Youngman (di.se):
Are you prepared to accept a deal with Youngman and Pang Da owns 100 percent of Saab?
“No. Let me be clear. Saab and Youngman can do whatever they deem best for the company. But if there is one hundred percent takeover of Saab, they will do it without the vehicles we supply, 9-4X, and without GM’s technology, “said James Cain.
Looks like this week is yet about to become interesting.