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Another Savior Appears For Saab

The Detroit Bureau, Tuesday, June 28, 2011 10 AM

Paul Eisenstein of the Detroit Bureau points out that "it's getting hard to tell the players without a scorecard, especially as Saab continues to spread its net, hoping to come up with cash that can keep the financially struggling company afloat."

Here's the situation: One Chinese company came in to buy Saab, as did another, China dealership chain Pang Da. Now, apparently, a third Chinese company has offered to help Saab with $18.4 million in cash for 582 unsold Saab cars. Meanwhile, efforts continue to win the approval of regulators in Europe and China needed to ensure that several other proposed deals can be completed, giving Saab enough cash to get it beyond the current crisis.

If you want more, read here, but take notes.

Read the whole story at The Detroit Bureau »

automotive, china

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