Saab Deal Supported “In Principle” by Chinese Authorities

Last Friday, Swedish Automobile N.V. [Swan] signed a Memorandum of Understanding with Pang Da and Youngman for the sale of the Saab brand to the two Chinese companies.

A MoU, however, does not mean that the transaction is completed. Especially when the Chinese are involved: recently Subaru and Toyota were denied a new joint venture in the country by the local authorities, which have also been stalling on approving the previous Saab-Pang Da-Youngman deal that was signed back in July.

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