Did you think that the recent Saab statement saying that they had received the first first part of the €70 million bridging loan from its Chinese partner Youngman was to good to be true? Well, it looks like it was.
A recent Bloomberg report suggest that both Youngman and Pang Da Automobile are backing away from from their investment plan in the crippled automaker. The two companies have reportedly offered to buy Saab instead of offering money to Swedish Automobile and their offer was officially rejected.
This is likely because the sum offered was just a token one, but Swedish Automobile stands to loose a lot of money with Saab if it doesn’t do something soon.
Company officials have released a statement saying the want the two creditors to reaffirm that they are “able and willing to consummate the agreements that are signed.”
This is likely because the sum offered was just a token one, but Swedish Automobile stands to loose a lot of money with Saab if it doesn’t do something soon.
Company officials have released a statement saying the want the two creditors to reaffirm that they are “able and willing to consummate the agreements that are signed.”