China's Youngman bails on Saab, Mahindra still in the mix
by Jonathon Ramsey (RSS feed) on May 23rd, 2012 at 1:00PM
Zhejiang Youngman Lotus Automobile has been jettisoned from the dwindling pool of bidders for Saab after tendering an offer of $492 million for the whole kaboodle. Exact reasons weren't given for Youngman leaving the table, but according to a report in Autoweek.nl, "Chinese bureaucracy" was partially to blame and there apparently wasn't complete confidence in the Chinese company's finances. Reports say the bidding is meant to close in the next week, but we still don't know who all the bidders are – India's Mahindra & Mahindra, China's Geely/Volvo and at least one as-yet-unknown... Read More
