China's Pang Da, Youngman agree to buy all of Saab-court

Newswire

STOCKHOLM, Oct 28 (Reuters) - Chinese firms Pang Da Automobile Trade Co and Zhejiang Youngman Lotus Automobile Co have agreed to buy all of the shares in struggling carmaker Saab , a court document showed on Friday. The two Chinese firms will provide sufficient financing so that a court-backed reconstruction process under creditor protection can continue, it said. The memorandum of understanding meant the Chinese firms would "buy all of the shares in Saab Automobile AB", the document ...

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