Auto Talk: Bank of China to become Saab investor

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. Funk Flex


Auto Talk: Bank of China To Take Stake in Saab

According to several reports, Saab’s Dutch owner, Swedish Automobile, and China’s Youngman have agreed that the Bank of China will come in as part owner of the ailing Swedish carmaker. Read more after the jump… Funk Flex Find Flex on Google +


Auto Talk: Saab Owner Posts Big Nine-Month Loss

Saab owner Swedish Automobile posted a net loss of 366.9 million euros ($493 million) in the nine months to Sept. 30, compared with a net loss of 104.1 million euros in the seven months to Sept. 30 last year. Hit the jump to read the rest of the story. Funk Flex Find Flex On Google+


Auto Talk: Saab Great Britain files for bankruptcy protection

The Great Saab Sob Story of 2011 continues unabated as Saab Great Britain has officially filed for bankruptcy protection. Saab GB is a wholly owned subsidiary of Swedish Automobile N.V., the parent company of Saab, and has the exclusive rights to distribute Saab automobiles in the UK. Funk Flex


Auto Talk: GM May Block Saab Deal With Chinese Investors

Saab’s former owner General Motors Co. may block a deal by two Chinese investors to take over the Swedish carmaker, if the transaction hurts its existing tie-ups in China or its competitive position in other markets. Hit the jump to read the rest of the story. Funk Flex Find Flex On Google+


Auto Talk: Chinese Buyers Vow Long-Term Financing For Saab

China’s Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. will pump more than half a billion euros ($709 million) into Saab, aiming to return the struggling carmaker to profit by 2014. Hit the jump to read the rest of the story. Funk Flex Find Flex On Google+


Saab Owner Ends Deal With China’s Youngman, Pang Da

Saab owner Swedish Automobile said it has terminated a 245 million euro ($340 million) investment deal with China’s Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co., after the Chinese companies offered to buy Saab instead of sticking to the original deal to invest in its parent company. FunkFlex Find Flex On Google+


Auto Talk: Admin 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 found itself snuffed out. Funk Flex Find Flex On Google+


Auto Talk: Equity Firm Comes To Saab’s Rescue

The investment firm of racing car enthusiast Alex Mascioli, which bought the luxury sports car business of the Dutch owner of Saab in September, plans to invest $70 million in the cash-strapped car maker as Chinese bridge financing looks uncertain. Hit the jump to read the rest of the story. Funk Flex Find Flex On Google+


Auto Talk: Saab Says Pang Da Investment Is On Track

An investment deal between Saab and potential Chinese investor Pang Da is still on course. Hit the jump to read the rest of the story. Funk Flex


Copyright © 2010-2014 FUNKMASTER FLEX, LTD. All rights reserved.