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Thursday, October 6, 2011

Report: Saab has Yet to Receive Chinese Funds


It ain’t over until the fat lady sings green starts flowing in: cash-strapped Saab may have won a stay of execution last month by receiving court protection from its creditors, but the company is still waiting for the €70 million ($93 million USD) from its Chinese partners Pang Da and Youngman as part of their July deal.

“The money has not come in yet”, Saab spokesperson Eric Geers told Reuters. “We originally thought it would take about two weeks. The process is ongoing, and we will give information as soon as we have the money.”

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