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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


Saab may have finally found a willing partner to buy the company's assets and lease them back to the automaker. According to Reuters, the Swedish real estate firm Hemfosa has agreed to make the move, but the complex financial situation surrounding Saab may make the deal difficult. The European Investment Bank must first sign off on the plan, and both Pangda and Youngman – two Chinese partners in the Saab dance – are also required to pay some money. Saab needs the deal to go through i


Saab has drummed up another Chinese partner. The Swedish automaker has signed a memorandum of understanding with Zhejiang Youngman Lotus Automobile Company for a €245 million ($352M USD) equity sharing distribution and manufacturing deal. The new partner will take on a 29.9 percent stake in Spyker for a total of €136 million at €4.19 per share (about $6), and will have the option to nominate two individuals to the Spyker board. In addition, Youngman will own a 45 percent stake in