Edition: United States United States Select Region
Email: Passwd: or sign up free
One News Page
One News Page United States > Business > Carmaker Saab rescued by buyer
Open news article

Carmaker Saab rescued by buyer

One News Page Staff
Wednesday, 13 June 2012

Carmaker Saab rescued by buyerby

Bankrupt Swedish carmaker Saab has been rescued from insolvency by a Chinese-Japanese investment group, according to local media reports

STOCKHOLM, Sweden -- The administrators of bankrupt Swedish carmaker Saab confirmed on Wednesday that a buyer for the ailing automobile company has been found.

Swedish media published unconfirmed reports that the buyer is a group of investors from Japan and China.

Saab, the maker of the 9-5 sedan and 9-4X crossover vehicle, filed for bankruptcy in 2011 following two decades of losses, and two years after former owner General Motors sold the company to Dutch group Spyker.

The administrators confirmed in April that Saab had debts of 13 billion Swedish kronor ($1.9 billion).

The consortium buying Saab includes a Swedish-registered company, National Electric Vehicle Sweden (NEVS) which is backed by a Hong Kong-based firm specialising in alternative energy.

NEVS is tipped to use the Saab brand and production capacity to build electric cars.
0
shares
Share on FacebookShare on Twitter Comment
 
Source: Newsy.com - on June 13, 2012

News video: Buyer Steps In to Rescue Automaker Saab

Buyer Steps In to Rescue Automaker Saab

National Electric Vehicle Sweden AB will purchase ailing automaker Saab.

You Might Like


Other recent news in Business

APPLE, Google, Adobe and Intuit settle Silicon Valley poaching caseMomentum-Stock Doubters Get Walloped As Apple, Facebook and GOOGLE Reignite
Stocks to Watch: MICROSOFT, Amazon, Starbucks are stocks to watchJapan And Greater CHINA Drive Apple's Revenue Growth, As The Western World Stays Flat
Stocks Slide as UKRAINE Fears Overshadow Apple EarningsMicrosoft (MSFT) Beats WALL STREET's Estimates For Fiscal Q3 Although Sales Fall
Wolverton: New rules could kill net neutrality and the INTERNET as we've known itUkrainian Troops Make Push Into East Ukraine City Held By Trained Pro-RUSSIA Gunman
The Wall Street Journal: AMAZON testing last-mile delivery in S.F.Microsoft Wins In The Cloud, Suffers On PCs In New CEO's FIRST QUARTER

Twitter


Comments

comments powered by Disqus

•More original news reports from One News Page
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2014 One News Page Ltd. All Rights Reserved.  |  About us  |  Press Room  |  Terms & Conditions  |  Privacy Policy  |  Content Accreditation
One News Page - Top Headlines RSS Feed RSS  |  News for my Website  |  Free news search widget  |  Advertise  |  Help  |  Contact us  |  DMCA / Content Removal
How are we doing? Send us your feedback  |  One News Page on Facebook LIKE us on Facebook  One News Page on Twitter FOLLOW us on Twitter  One News Page on Google+ FIND us on Google+



Bullet: One News Page official news app for iPhone Bullet: Our news app for iPhone
-