As with any good breakup, the recent split between Saab and its Chinese suitors has birthed a bit of he-said, she-said. Automotive News Europe reports that Pang Da and Youngman have announced that their equity deal with the Swedish automaker is still valid even after Saab said that it was cancelling the arrangement. Saab accused both Chinese companies of failing to confirm or fulfill their commitments of interim funding while the automaker underwent government-protected restructuring.
Pang Da, meanwhile, has said that while it never signed an agreement for bridge funding Saab, the company still fully intends to continue to hold up its end of the bargain, including seeking the approval of the Chinese government for the deal. The company has already paid Saab €45 million (about $62M USD) in a separate vehicle purchase deal.
Youngman, meanwhile, notes that it has already paid an $11 million bridge loan. Both Youngman and Pang Da have indicated that they are still willing and able to help Saab with short and mid-term funding options.