Swedish Automobile Signs MoU With Pang Da And Youngman For The Sale Of Saab Automobile And Saab GB

October 28, 2011 - Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that it entered into a memorandum of understanding with Pang Da and Youngman for the sale and purchase of 100% of the shares of Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) for a consideration of EUR 100 million.

Final agreement between the parties is subject to a definitive share purchase agreement between Swan, Pang Da and Youngman, which will contain certain conditions including the approval of the relevant authorities, Swan’s shareholders and certain other parties. The consideration of EUR 100 million will be paid in installments. An important consideration for Swan to enter into the transaction is the commitment of Pang Da and Youngman to provide long term funding to Saab Automobile.

The administrator in Saab Automobile’s voluntary reorganization, Mr. Guy Lofalk, has withdrawn his application to exit reorganization. The MOU is valid until November 15 of this year, provided Saab Automobile stays in reorganization.

Ouch.

Ouch.

Agreed.

The saga continues..it seems the cat may have a life or two left?

I wish all the best to them saabs have a cool look to them, but im thinking they're doomed

Ouch.

We need a list of automakers that just need to give up, die and go away. Saab, Mitsubishi, Suzuki (although yes the Kisashi is a hell of a car), in a few years actually MINI will have outlived its usefulness and profitability....

I wish all the best to them saabs have a cool look to them, but im thinking they're doomed

Does the word Titanic have any meaning to you?

And actually that's not even totally fair...a better example would be the Lusitania, which went down in 14 minutes.

No. The best name to describe SAAB is Terri Schiavo, the eyes are fluttering, technically still alive, but there is no hope to be had and it just lingers on till someone gets a court order to pull the plug.