In a statement on October 28, Saab owner Swedish Automobile said it concluded a deal to sell 100% stake of the struggling carmaker to Chinese partners Youngman and Pang Da for €100 million ($142 million).
The company said "Swedish Automobile announces that it entered into a memorandum of understanding with Pang Da and Youngman for the sale and purchase of 100% of the shares of Saab Automobile AB (Saab Automobile) and Saab Great Britain Ltd. (Saab GB) for a consideration of €100 million".
Swedish daily Svenska Dagbladet reported earlier in the week that Pang Da and Youngman had instead offered 200 million kronor ($39.1 million) to buy all of Saab.