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20Saab gets new $492M bid from Youngman

Youngman has made another bid for bankrupt Saab, according to new reports. The Chinese automaker has offered to buy what's left of Saab for $470 million at current conversion rates. The news comes courtesy of Dagens Industri. The newspaper also indicates that's the absolute lowest the Swedish automaker's pledgees and real estate owners will accept to settle the company's impressive debt. The deal would also set aside an additional $1.47 billion to restart production at the mothballed Trollhattan

104Saab files for bankruptcy

The Wall Street Journal reports Saab has finally filed for bankruptcy protection in a Swedish district court. Saab CEO Victor Muller reportedly turned in the bankruptcy application just hours before a court was set to rule on the company's reorganization. According to the company's Facebook page, the filing comes nearly two years to the day after Saab first learned it would be scrapped as part of the General Motors reorganization.

38GM rejects latest Saab proposal, Swedish Automobile to pursue alternatives

Saab is inching ever closer to liquidation. Reuters reports General Motors will not support a proposed deal that would see the Swedish brand rescued with cash from a Chinese bank. GM has repeatedly cited concerns that any deal with a Chinese partner could conceivably hurt the American automaker's competitiveness in one of the world's quickest growing markets. The fear is that Saab would share technology pioneered by GM with its competitors. Saab could conceivably still move ahead with the deal,

18Bank of China to become Saab investor [UPDATE]

Saab is showing its tenacious spirit more now than ever before, with word of another reworked proposal sliding across the desk. This latest plan, reports Automotive News, has the Bank of China assuming part ownership of Saab. The bank takes the place of Pang Da in a partnership with Youngman, and the hope is General Motors will find this latest arrangement suitable to approve where it had nixed previous proposals.

8Saab postpones creditor meeting as talks with Chinese continue

Saab is still working with Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. to keep the company out of bankruptcy. But with no final deal in place, Saab has decided to delay a November 22 meeting with creditors until the automaker can obtain financing. Saab's parent company, Swedish Automobile, was scheduled to meet with its creditors to work out a plan to repay them, but without a resolution with the Chinese, it apparently didn't have much of a plan to share with them. Sw

13Despite expiring deadline, Saab talks with Chinese investors continue

Time is running out on the Memorandum Of Understanding between Saab parent Swedish Automobile and the automaker's two Chinese suitors. The MOU technically runs out today, though Automotive News reports that the three companies will continue talks even outside of a formal setting.

23Swedish Automobile may be forced to liquidate even if Saab sale goes through

Swedish Automobile just can't seem to catch a break. Its main brand, Saab, has received government protection from creditors, looked for loans and even secured a tentative deal with Chinese automakers, but even if it manages sell the Griffin marque, Swedish Automobile may still end up getting liquidated.

42GM moves to sever ties with Saab over Chinese owner concerns

Spitting out the equivalent of "No soup for you," General Motors has made stronger noises about shutting Saab off from its technology and component pipeline and the new 9-4X, due to the Swedish company's proposed takeover by Chinese firms Pang Da and Youngman. While the GM statement didn't appear to make a definitive statement of walking away, it did say "GM will not agree to the continuation of the existing technology licenses or the continued supply of 9-4X vehicles to Saab following the propo

75GM taking issue with Saab ownership change

Big trouble is brewing in little China. While Swedish automaker Saab was has agreed to sell itself to Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. for what seemingly amounts to a pittance ($142 million and up to $854 million in long-term funding), General Motors, Saab's former parent in the United States, is apparently none too pleased.

AddSubmit your questions for Autoblog Podcast #254 LIVE

We record Episode #254 of the Autoblog Podcast tonight, and you can drop us your questions via our Q&A module below. Check out our discussion topics or chime in to help determine what else the crew chats about this evening. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.

14Saab's Chinese buyers commit over $850M in long-term funding

Saab may have finally been saved last week when Chinese companies Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. agreed to buy the Swedish automaker, thus providing some much-needed short- and long-term financing. Pang Da and Youngman purchased Saab for 100 million euros ($142M USD) and they are offering up a €50 million ($70M) bridge loan. Most importantly, the Chinese companies have now pledged €600 million ($854M) in long-term funding. That's assuming, of co

51Saab agrees to be sold to Pang Da, Youngman

Despite shunning a previous takeover bid earlier this month, Swedish Automobile N.V. and Chinese automakers Youngman and Pang Da have signed a memorandum of understanding for the outright purchase of Saab and Saab Great Britain for just €100 million, or around $140 million USD. The deal is still subject to the approval of various authorities, including the Chinese government, but the deal is expected to go through. Guy Lofalk, an administrator in the reorganization of Saab, has officially w

7Pang Da, Youngman say original Saab deal still valid

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.

16Saab shirks takeover bid by China's Pang Da and Youngman, terminates deal

Saab has officially confirmed that it has terminated its deal with Pang Da and Youngman. In a press release, the company said that the deal came to an end because both of its Chinese partners failed to live up to their end of the bargain; namely supplying Saab with the interim funding necessary to continue operations during the manufacturer's reorganization. In response, Pang Da and Youngman apparently offered a complete takeover by purchasing 100-percent of the Swedish automaker's shares, but S

26Admin trying to terminate Saab reorg, Muller responds by trying to terminate admin

Things are apparently getting nasty inside Saab as the company continues to scramble for a route to viability. Autocar reports that Guy Lofalk, the court-appointed administrator placed in charge of the company's reorganization affairs, recently applied to terminate the automaker's reorganization process. That move would effectively strip Saab of the protections it enjoys from its creditors while it seeks further investment from outside sources, which means it wouldn't be long before the company

12Saab secures private equity investor, doubts timing of Chinese money

Saab has announced that it has received a financial commitment from U.S.-based North Street Capital. The offer has arisen over doubts that the deal previously brokered with Chinese automakers Pang Da and Youngman will actually come to fruition. Saab intends to accept the new offer from its U.S. suitor.

21Saab saved by first loan payment from China's Youngman

As much as the universe would seemingly like to see Saab wiped off the face of the Earth, this stubborn automaker from Sweden refuses to go quietly into the night. Despite reporting two days ago that Saab was on the verge of bankruptcy, it has been pulled back from the edge (again) today by Chinese automaker Zhejiang Youngman Lotus Automobile Co.

68Saab to finally succumb to bankruptcy today?

If a new report by Autocar is to be believed, Saab may be pushed into bankruptcy as early as later today. According to the British weekly, emergency financial support from Chinese carmaker Youngman is "virtually certain to be blocked" by its home government because the deal does not include any new intellectual property rights. Saab not only needs approval from Chinese authorities to broker the deal, it must also still see its reorganization formalized in Swedish courts.

16Saab secures $96M bridge loan, lodges appeal as unions push for bankruptcy

Saab fans: Go find yourself a hat, and hold the hell on to it – we have a feeling this ride is about to get a wee bit bumpier.

21Saab to build three all-new models with its two new Chinese partners

Saab finally has some good news to share with the world. The Swedish automaker has announced that it has inked formal, legally binding deals with both Pang Da and Youngman. The only thing standing in the way of both agreements right now is approval by a host of regulatory bodies and government agencies. Moreover, Saab has also formed a conditional partnership with Youngman Passenger Car that will culminate in a new joint venture to produce three new models. The operation will be 50 percent owned

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