Youngman Motors Halts Saab Takeover Negotiations
Time has passed, and we no longer find Volvo’s Chinese ownership, or Jaguar-Land Rover’s Indian ownership strange, in fact, their intervention kept them (some of the best European brands) from going under. Saab makes no exception, following their recent filing for bankruptcy, they have been looking for a new owner to hopefully get things back on track (and properly build the 9-5).
The chinese manufacturer, Youngman Motors, had been interested in Saab for some time, and the the court-appointed administrators who control Saab’s bankruptcy process have reportedly halted all talks and negotiations with the Chinese manufacturer.
Currently, there are still 3 bidders left in ‘the race for Saab’, only one of which being known (and not Chinese), the Indian giant, Mahindra. The period previously indicated by Saab’s administrators as the deadline for the automaker’s sale, this summer, may be considerably shortened, with a Swedish report claiming that a final deal may be closed as early as next week.
Story via Dagens Industri