Swedish Automobile to sell Saab to China’s Pang Da and Youngman

I honestly don’t want to hear about Saab’s survival issues anymore but there are some of you out there that still may care – so we’re bringing you this latest update.

But first – a recap of recent headlines:

• China’s Pang Da, Youngman offer to takeover Saab, Swedish Automobile turns down offer
• Saab terminates agreement with China’s Pang Da and Youngman
• Report: Swedish Automobile in final talks to save struggling Saab

“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,” Saab said. “The consideration of EUR 100 million will be paid in instalments. 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 MOU is valid until Nov. 15.

– By: Omar Rana