Saab Secures 70 Million Euros in Bridge Financing
Saab 900 3 door
Saab has secured 70 million Euros in bridge financing, with the help of a Chinese guarantor. According to the very short press statement, Saab said, “As part of the transaction, Youngman has also signed a technology license transfer agreement with the SPV on purchasing the license and providing a guarantee for its payment of the license”. This means, Saab buys more time to renew its legal efforts to seek court protection against creditors.
On an unrelated note, Proton has had dealings with Youngman before.
Source: egmCarTech
jacklee
Co-Founder / Managing Editor at TheCarGuysMY
Jack Lee is an engineer by profession, a business management adept by inclination, an ICE enthusiast and by nature, a no-holds-barred automotive maniac. He loves everything and anything automotive, especially bleeding-edge automotive technology, up-and-coming automotive prac-apps, and of course, scrumptious cuisine. Jack holds the distinction in TCG as the person with the lightest right foot.
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