Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces it has received a commitment from North Street Capital, LP (North Street) on the funding of Swan and Saab Automobile AB (Saab Automobile). The offer consists of the following transactions: Subscription to 2,386,635 ordinary shares in the capital of Swan at a price of USD 4.19 per share for the purpose of funding […]
Some internal news from Saab: Many have highlighted October 14 as a possible date when the NDRC would take its decision regarding Saab’s planned business agreements with Pang Da and Youngman. For third parties it is not possible to know exactly when authorities like the NDRC will take their decisions. The reason for October 14 spreading the way it has,
Trollhättan, Sweden: Management of Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) confirm that the reorganization is progressing and that a first payment by Youngman under the bridge loan funding commitment as announced on September 12 was received by Saab Automobile. Further payments under the amended and final bridge loan agreements signed between Youngman and Saab Automobile are
Zeewolde, The Netherlands, 12 October 2011 – Swedish Automobile N.V. (Swan) and Pang Da Automobile Trade Co., Ltd (Pang Da) have taken notice of media reports questioning the validity of the partnership agreements between Swan, Saab Automobile AB (Saab Automobile) and Pang Da after Saab Automobile entered into voluntary reorganization. Swan, Saab Automobile and Pang Da underline that these reports
SWAN, SAAB AUTOMOBILE AND PANG DA RESPOND TO MEDIA REPORTS Read Post »
We’ve had some good news from Asia in the last few days. Very encouraging indeed. On top of the Saab 9-4x being shortlisted for Truck of the Year in the United States, the Saab 9-5 has just been awarded a Car of the Year award in Singapore. The press release: Saab 9-5 named Car of the Year in Singapore Trollhättan,
Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile) has launched an efficiency improvement initiative as part of a broader review of the company’s business plan for 2012 and beyond, aiming at creating a more flexible and more competitive cost structure for the company. This initiative also reflects the effects of the prolonged production stoppage since
Press Release: Saab Automobile To Improve Efficiency As Part Of Business Plan Review Read Post »
Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobile) received approval for their proposal for voluntary reorganization from the Court of Appeal in Gothenburg, Sweden today. The purpose of the voluntary reorganization process is to secure short-term stability while simultaneously attracting additional funding,
Press Release: Saab Automobile Voluntary Reorganization Filing Approved Read Post »
We’ve just heard that the Swedish court has approved our appeal, and thereby granted us reorganisation status. This decision will provide stability that’s much needed as we get things together in advance of our dealing with Chinese partners in the future. Never, ever give up. Press Release to follow.
Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and Saab Automobile Powertrain AB (collectively Saab Automobile) have officially disputed the bankruptcy filings by two Swedish unions with the District Court in Vänersborg, Sweden. Both companies argue they are not insolvent and have only temporary liquidity problems which they expect to solve following the planned equity contributions by
Press Release from SWAN: COURT OF APPEAL GRANTS RIGHT OF APPEAL TO SAAB AUTOMOBILE IN VOLUNTARY REORGANIZATION CASE Zeewolde, The Netherlands, 19 September 2011 – Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobile) received a right to appeal from the Court of Appeal in
Some news from inside Saab that I thought you’d be interested in seeing. The process so far and the processes to come. Important bit of good news first….. ——- Important milestone achieved in China process Today, the PDRC, the provincial equivalent of the National Development and Reform Commission (NDRC) approved the deal between Saab, Pang Da and Youngman. The decision
