Zeewolde, The Netherlands, 28 October 2011 – Swedish Automobile N.V. (Swan) announces that it entered into a memorandum of understanding with Pang Da and Youngman for the sale and purchase of 100% of the shares of Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) for a consideration of EUR 100 million. Final agreement between the parties […]
Zeewolde, The Netherlands, 28 October 2011 – Swedish Automobile N.V. (Swan) announces that it issued a subscription notice for 3 million shares under the current EUR 150 million equity facility between Swan and GEM Global Yield Fund Limited. The exact number of shares to be issued and the price thereof will depend on the pricing period which commences today. In
Press Release: SWEDISH AUTOMOBILE ISSUES SUBSCRIPTION NOTICE UNDER GEM FACILITY Read Post »
My first thought was to recover from the punch in the face it felt like I’d just received. It was a blow, for sure. The agreements that Swedish Automobile made with Pang Da and Youngman promised much in terms of future development for Saab. To have those agreements end in a flurry of last-minute activity like this is disappointing in
Thoughts on today’s press release – cessation of agreement with Pang Da and Youngman Read Post »
Trollhättan, Sweden: Today, Swedish Automobile N.V. (Swan) announced that it has given notice of termination with immediate effect of the Subscription Agreement of July, 2011 entered into by Swan, Pang Da and Youngman. Swan took this step in view of the fact that Pang Da and Youngman failed to confirm their commitment to the Subscription Agreement and the transactions on
Zeewolde, The Netherlands, 21 October 2011 – Swedish Automobile N.V. (Swan) confirms that a new offer, constituting a direct purchase of the shares of Saab Automobile AB and Saab Great Britain Ltd, was made by Pang Da and Youngman. The parties made the offer during discussions with Swan, referring to changed circumstances since July 2011 when the subscription agreement was
Press Release: ONGOING DISCUSSIONS WITH PANG DA AND YOUNGMAN Read Post »
A few pieces from the web that I think people should check out as they try to digest the news from today…….. Firstly, there’s an interview with Saab CEO Victor Muller on Radio P4 West, from Sweden. It’s in English. Lyssna: Saabs vd, Victor Muller, om företagets situation —— From the observer/enthusiast point of view, Life with Saab has summarised
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 »
Hi all, We’ve received a few comments, and a few submissions via the contact page, asking for some clarification as to what’s being reported in various press outlets right now. If you’re a regular Inside Saab reader, you’ll know that I’m currently on vacation and away from Sweden. That limits the amount of current information I have access to and
