SAAB Finally Lands into Chinese Ownership

Full Story: Sense The Car October 30, 2011

After months of speculations and denials by SAAB, the deal is finally struck at $125 million. SAAB will now be part of the Chinese Automobile Industry. 

However, there are procedural delays and approvals required from both governments for finalization of the deal. SAAB has been bought by two Chinese automotive companies Pangda and Youngman.

SAAB has been struggling with its financial crisis when it purchased the units from GM in 2010.

Posted in: Business