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

Reuters

Saab

The two Chinese firms will provide sufficient financing so that a court-backed reconstruction process under creditor protection can continue, it said.

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The memorandum of understanding meant the Chinese firms would "buy all of the shares in Saab Automobile AB", the document said.

The document was a statement from Saab's administrator, who was withdrawing an earlier request to end the reconstruction. The court had been due later on Friday to decide on Lofalk's application.

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