Saab-Hawtai deal falls through – Great Wall enters picture

Posted in Cars, International News, Saab / By /

Saab-Hawtai deal falls through – Great Wall enters pictureIt looks like the reported deal between Hawtai Motors and Saab, which would have seen the Chinese automaker taking a 29.9% equity stake in Saab parent company Spyker Cars for US$172 million, has fallen through.

Apparently, Hawtai was not able to obtain all the necessary consents for the deal, which reports indicate may be because Beijing views the company as too small and too weak to manage the risks.

The reports add that Saab and Hawtai are continuing to work on a deal, but Saab added in a statement that the talks are no longer exclusive. Meanwhile, Chinese SUV maker Great Wall is also in talks with Spyker over a potential tie-up with the Swedish concern, which needs funds to pay overdue bills and resume long-term production.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • kwing on May 13, 2011 at 12:06 pm

    seem like china is buying up all Swedish brand..

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    • bwob on May 14, 2011 at 1:11 pm

      Just a minor change of ownership. Remember, they were all owned by the Americans not too long ago.

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