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+
