Swan, Saab Automobile And Pang Da Respond To Media Reports
Trollhättan, Sweden: Swedish Automobile N.V. (Swan) and Pang Da Automobile Trade Co., Ltd (Pang Da) have taken notice of media reports questioning the validity of the partnership agreements between Swan, Saab Automobile AB (Saab Automobile) and Pang Da after Saab Automobile entered into voluntary reorganization. Swan, Saab Automobile and Pang Da underline that these reports are based on a misunderstanding.
Pang Da has also denied it to Dow Jones Newswire.
Wang also rebutted a report that the agreement between Pang Da and Saab Automobile became invalid when the Swedish car maker entered bankruptcy protection.
“That must be misunderstanding,” Wang said. “We haven’t and don’t have plan to revise the deal.”
Reuters is telling now that
The chairman of Chinese auto dealer Pangda said he is “confident” that a planned investment in Saab will go through, clarifying earlier remarks he made suggesting that the deal was now void.