Second Chinese investor comes to Saab's rescue

Tom Webster

Saab has agreed a deal that will inject a badly-needed €110m (£96m) into the company.

Pang Da Automobile Trade Co has stepped in to take the place of Hawtai, which pulled out of a similar deal last week. Pang Da will get a 24 percent stake in Saab for their initial €65m (£57m) and it has also agreed to buy €45m (£39m) of Saab cars, with €30m(£26m) up front and another €15m (£13) to come within 30 days.