It's not over until the fat lady sings green begins to flow in: cash-strapped Saab may have won one month last stop receiving court protection against its creditors, but society is still waiting for € 70 million (USD 93 million) of its Chinese partners Pang and DA Youngman under their agreement in July.
"Money has not happened yet," Eric Geers said Saab spokesman told Reuters. "At first I thought it would take about two weeks. The process is ongoing and we will give information as soon as money."
Geers would not say whether "it is difficult to say when it's over, but it will soon", would he or comment on how long the Saab is able to survive without the money promised by the Chinese.
Just last week, the owner of Saab, Victor Muller has signed a preliminary agreement to sell the Spyker sports car manufacturer in North America Street Capital at a price of € 32000000 (43600000 USD) to ensure short-term funding for Saab.
But money will not be much needed way to Saab until the transaction is completed and the debt capital Tenacious is paid in full because it has the right to Spyker as fire safety.
Hard times indeed.
Thursday, October 6, 2011
Report: Saab Has Not Yet Received The Funds In China
0 comments:
Post a Comment