Sunday, December 4, 2011

Bank of China to step in as Saab part owner

Victor Muller, Spyker Chief Executive and Chairman of Saab Automobile, arrives for a news conference in Trollhattan September 7, 2011. Credit: Reuters/Bjorn Larsson Rosvall/Scanpix

(Reuters) - Saab's Dutch owner and China's Zhejiang Youngman Lotus Automobile have agreed that the Bank of China, the nation's fourth-largest bank by market value, will come in as part owner of the ailing carmaker, according to a source familiar with the deal. Article posted here

Editor: Not mentioned in the article, SAAB is an exporter of missile systems

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