GM Won't Renew Tech License With Saab's Chinese Buyers

Law360, New York (November 7, 2011, 9:19 PM EST) -- General Motors Co. will not continue a technology licensing agreement with Saab Automobile AB if the struggling Swedish automaker's $141.9 million sale to two Chinese companies announced last month is consummated, GM said Monday.

GM, which also supplies 9-4X vehicles and components like power trains to Saab, said it would not allow Saab's potential new owners — Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. — access to its proprietary technology.

"GM is willing to continue to supply power trains and other components...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.