Kent Hovind - Seminar 4 - Lies in the textbooks [Multisubs]
Saab sign Chinese car distribution agreement Hawtai deal fails.
After Chinese automaker Hawtai Motor Group was not allowed by his gogvernemnt to invest in Saab, Chinese car distributor Pangda Automobile Trade Co Ltd intervened with a forward offer, get 24 of the Swedish automaker.
With an initial offer to buy nearly 42 million Saab cars, followed by another on May 21 million Pangda the investment could help Saab owner based Netherland Spyker Cars NV, restart manufacturing line Swedish car being a distributor rather than a manufacturer, Pangda fewer government hoops to jump through for business again, Pangda would also get 24 Saab 92 with 5 million direct participation agreement must still be approved.
Chinese carmaker Hawtai Motor Group has completed its contract with Saab Automobile after not taking the OK authorities to stake an important part of the Swedish automaker.
According to Bloomberg news, manufacturers continue talks about cooperation on a non-exclusive basis after being forced to terminate the agreement when it became clear that Hawtai couldn t get Chinese consent, Spyker, the Dutch supercar manufacturer who owns Saab, said in a statement.
The agreement would have helped Saab ease a cash shortage that forced to halt output on March 29 and to stage a comeback in China, where it is absent since 2008. The automaker could still shoot a loan 43 million held in early May and is seeking additional funding from the European investment Bank, while Russian banker Vladimir Antonov said he d like to take an interest.
They have to look for another investor, it is as simple as that, Tom Muller, senior analyst at Theodoor Gilissen Bankiers NV in Amsterdam, said by phone they need a stable long-term investor Whether it's financial investor or investor car doesn t matter sector.
Hawtai, based in Beijing, agreed on May 3 to invest 120 million to 171 million and receive a stake of up to 29 percent of 9 Zeewolde, Netherlands-based Spyker Chinese company also agreed to lend Spyker 30 million euros.
The agreement would have let Hawtai produce Saab vehicles locally for the Chinese market, in 2013 updated the 9-3 model the Swedish carmaker The agreement also needs the approval of the EIB and the National Office Swedish debt, which is guaranteeing a loan to the bank's Saab.
Hawtai has nothing to add at this stage beyond what was announced at the press conference on 3 May, Xinyi Huo, director of strategic planning automaker, said in a telephone interview.
Saab sign Chinese car distribution agreement Hawtai deal fails SHOP, Saab, Chinese distributor.
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