Yesterday, Saab announced that its request for government protection was denied by a Swedish court, citing that the court feels that the automaker’s proposal for a voluntary reorganization would not work.
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Furthermore, it is unclear to the court whether or not the proposed €245 million from China’s Pang Da and Youngman companies will be enough to fix the Swedish automaker’s financial woes (assuming the Chinese government approves this equity contribution).
Full Story: Autoblog
