REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab?
Or... it could be doing both: trying to buy Saab and as well as remodel its business. The deal for Saab between GM and Koenigsegg was for about $1 billion: the European Investment Bank approved a loan for $615 million, and BAIC provided about $400 million by buying a minority stake in the Koenigsegg Group. If BAIC did its own deal with GM for that same amount -- although we have a feeling they could get a Christmas discount -- that would leave nearly $2 billion for BAIC to take care of Saab and invest in its own operations.
This is, of course, pure speculation -- BAIC could have something else in mind entirely. All we know right now is that they've got a lotta yuan just sitting around waiting to be spent, and aborted plans to build the new 9-5 in China. This Saab story isn't finished yet...
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