Swedish Auto's U.K. unit files for administration

Newswire

AMSTERDAM, Nov 29 (Reuters) - Swedish Automobile , the Amsterdam-listed company which owns Sweden's cash-strapped car maker Saab, said on Tuesday its British unit had filed for administration as it awaits funding from Chinese investors.

"Saab Great Britain Ltd filed for administration with the High Court in London," Swedish Automobile said in a statement.

"The board of Saab GB is of the opinion that administration gives the company and creditors the necessary legal protection until the required funding for the company has been secured. (Reporting By Sara Webb)

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