The efforts of Dutch sports car specialist Spyker to retain ownership of Swedish brand Saab appear to have been scuttled with news China’s Pang Da and Youngman is set to buy 100 per cent of Saab Automobile AB.
Subject to some regulatory approval, Pang Da and Youngman have until November 15 to confirm funding of the €100 million required for the purchase.
Where this all leaves Saab’s employees, suppliers, distributors and dealers was not made clear in the statement issued from Sweden.
We expect a clearer picture will emerge within the next fortnight.
