Saab declared bankruptcy.
Experiencing financial problems Swedish carmaker Saab Automobile and its subsidiaries - Saab Automobile Powertrain AB and Saab Automobile Tools AB on Wednesday declared bankruptcy, informs the press service of the Saab.
In a few past months, Saab, that is owned by the Netherlands company "Swedish Automobile", almost did not work. They had no money to pay for the supply of the components and salaries to their employees. Previously, the owner group had an agreement with Chinese Ahenjiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. about the sale of shares in Saab for 245 million euros. Transactions are waiting for the approval of regulators in Sweden and China, and this process may take several more months.
The company Saab started producing cars in 1947 and in 1990, GM bought 50% of the company, 10 years later GM became its only owner. In 2010, GM sold Saab to Spyker Cars NV, subsequently renamed the Swedish Automobile.