Today as I went through the news feed a headline caught my eye:
Saab may be forced into voluntary liquidation, even if sale to Pang Da and Youngman goes through
It appeared on Paul Tan’s Automotive News and I found similar headlines in a few other places, too.
It appears like they just didn’t get the difference between SWAN and SAAB because that possible liquidation scenario is exactly what SWAN were talking about for SWAN in their press info after the shareholders meeting last week. The contradiction in this headline, Saab will be sold and then liquidated, is obvious and almost comical but we know how such things can spread on the interwebs.
To clarify things, for those who did not read the SWAN info and for lazy journos, here’s a quote from Bloomberg:
Saab Auto Owner May Liquidate as Sale May Not Raise Enough Cash
Swedish Automobile NV, the Dutch owner of Saab Automobile, may liquidate even if it succeeds in selling the former General Motors Co. (GM) brand, as the proceeds may not be enough to pay off creditors.
Swedish Automobile, which has tentative agreements to dispose of Saab as well as its Spyker sports-car business, will consider “all of its options,” including a voluntary liquidation should the deals go through, the Zeewolde, Netherlands-based company said in a Nov. 11 statement.