MoU with Youngman, Pangda has expired, but talks continue

Today’s the day the Memorandum of Understanding that was signed on October 28 expires.

There might be some uncertainty as to what that will mean for Saab today. In short, whilst the MoU does indeed expire, all parties to that deal have agreed to continue talks.

General Motors, who must approve any sale of Saab under certain conditions, indicated that they would not accept a sale of Saab Automobile as per the terms of the MoU. Therefore the parties involved are negotiating to determine conditions that GM will accept.

As has been previously reported in the media, information has been sent to GM outlining Saab’s proposed business plan and intentions for the future, as background information for any further change-of-ownership proposals put before them.

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  1. I was hoping for better news on my birthday but as long as there is movement (even if it is crawling), there is hope.