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• Youngman raises bid for Saab Automobile
Bloomberg, Swedish daily Dagens Indusrri and other media said Wednesday that the Chinese-Japanese investment group National Electric Vehicle Sweden (NEVS), that may build electric cars, agreed to buy Saab Automobile and bring the Swedish manufacturer back from bankruptcy.
Anne-Marie Pouteaux and Hans Bergqvist, Saab’s bankruptcy administrators, said in a statement that the carmaker has been sold and the purchaser will be identified at a press conference later today.
The group, led by Japanese investment firm Sun Investment and Hong Kong-based renewable-energy power-plant builder National Modern Energy Holdings Ltd., will make the announcement later Wednesday, an unidentified person told Bloomberg.
The principal owner of NEVS, with a 51 percent stake, is National Modern Energy Holdings. The company is registered on British Virgin Islands, but is owned by Hong Kong-based China Dragon Base Holding.
The Hong Kong-based firm is controlled by 47-year-old Swedish-Chinese businessman Kai Johan Jiang, who is expected to become CEO of NEVS.
Last Updated (Wednesday, 13 June 2012 18:43)