Gasgoo.com (Shanghai May 18) - Spyker has already confirmed the signing of a memorandum of cooperation between Saab and Chinese automobile holdings giant Pangda in a report issued yesterday, the Guangzhou Daily reported. The agreement stipulates that both companies will cooperate in producing and selling Saab automobiles in China.
Pangda will pay 45 million euros ($63.78m) to purchase 24 percent of the stock rights to Saab, which are estimated to be valued at 4.19 euros ($5.939) per share. The money would go a long way in reviving the suffering Saab brand. However, Spyker added that the deal still needs to be approved by legal sources on both sides.
