Saab Hits The Dust After GM Disapproves Sale

Law360, New York (December 19, 2011, 2:37 PM EST) -- Saab Automobile AB and two subsidiaries on Monday filed in Swedish district court to liquidate after the objections of General Motors Co. caused a planned sale to two Chinese companies to fall through, parent company Swedish Automobile announced Monday.

The Swedish car maker had been in talks with Zheijang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. for a $141.9 million sale of the company. But GM, a former Saab owner that retains rights to some Saab technology, said it would terminate its licensing...
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