Cars
The dramatic Saab roller-coaster continues to painfully drag on with good and bad news for the brand. But let's take it in chronologically order.
- Saab Files For Bankruptcy After All Rescue Plans Fail, This Could Be The End
It is sad news for the automotive world to learn of the demise of a company. Unfortunately, Monday December 19, will mark the end of the road for Swedish carmaker Saab – and this time it looks like it is final. Earlier this morning, Swedish Automotive...
- China's Pang Da And Youngman Agree To Buy Saab For €100 Million And Save It From Bankruptcy
Saab's parent company Swedish Automobile N.V. [Swan] said on Friday that it has agreed to sell the company to China's Pang Da and Youngman. If the deal goes through, the Chinese will own Sweden’s car industry bar Koenigsegg as Volvo was...
- Spyker To Be Sold To Us-based Equity Firm For €32 Million
Swedish Automobile N.V. [Swan] owner of cash-strapped Saab, announced today that it has reached an agreement with US-based private equity firm North Street Capital LP concerning the main terms for the sale of its Spyker luxury sports car business. Read...
- Saab Says It Can’t Pay Workers, Company’s Survival In Doubt
New clouds are forming over Saab as the automaker’s parent company, Swedish Automobile N.V., formerly known as Spyker Cars N.V., said on Thursday it will be unable to pay its 3,800 employees their wages because it has not yet obtained the necessary...
- Saab’s Deal With China’s Hawtai Motors Collapses, Future Once Again Uncertain
Another day, another deal gone sour for Saab and its parent company Spyker Cars N.V. Today, less than two weeks after Saab announced an agreement with China’s Hawtai Motor Group that would have invested €150 million (US$215 million) into...
Cars
Saab Receives Funding from Spyker Buyer but not from Chinese Partners, Administrator Proposes to Terminate Reorganization
The dramatic Saab roller-coaster continues to painfully drag on with good and bad news for the brand. But let's take it in chronologically order.
This morning, Saab's parent company Swedish Automobile N.V. (Swan) said it has accepted new funding from U.S. private-equity group North Street Capital, which is interested in Spyker.
The equity firm is paying US$10 million for 2.39 million new shares Swan while also providing a further US$60 million as a loan that will be "collateralized by a first lien on certain assets of Saab Automobile as well as a second lien on the collateral as pledged to NDO".
Read more »- Saab Files For Bankruptcy After All Rescue Plans Fail, This Could Be The End
It is sad news for the automotive world to learn of the demise of a company. Unfortunately, Monday December 19, will mark the end of the road for Swedish carmaker Saab – and this time it looks like it is final. Earlier this morning, Swedish Automotive...
- China's Pang Da And Youngman Agree To Buy Saab For €100 Million And Save It From Bankruptcy
Saab's parent company Swedish Automobile N.V. [Swan] said on Friday that it has agreed to sell the company to China's Pang Da and Youngman. If the deal goes through, the Chinese will own Sweden’s car industry bar Koenigsegg as Volvo was...
- Spyker To Be Sold To Us-based Equity Firm For €32 Million
Swedish Automobile N.V. [Swan] owner of cash-strapped Saab, announced today that it has reached an agreement with US-based private equity firm North Street Capital LP concerning the main terms for the sale of its Spyker luxury sports car business. Read...
- Saab Says It Can’t Pay Workers, Company’s Survival In Doubt
New clouds are forming over Saab as the automaker’s parent company, Swedish Automobile N.V., formerly known as Spyker Cars N.V., said on Thursday it will be unable to pay its 3,800 employees their wages because it has not yet obtained the necessary...
- Saab’s Deal With China’s Hawtai Motors Collapses, Future Once Again Uncertain
Another day, another deal gone sour for Saab and its parent company Spyker Cars N.V. Today, less than two weeks after Saab announced an agreement with China’s Hawtai Motor Group that would have invested €150 million (US$215 million) into...