Saab owner says must convince GM on Saab sale to Chinese
STOCKHOLM |
STOCKHOLM (Reuters) - The owner of Swedish car maker Saab will hold talks with U.S. auto maker General Motors (GM.N) to convince it of the merits of a sale of Saab to Chinese investors, it said on Friday.
General Motors has preference shares in Saab, supplies it with parts and is a creditor. Its permission for the planned sale of Saab to China's Pang Da Automobile Trade Co (601258.SS) and Zhejiang Youngman Lotus Automobile Co for 100 million euros is needed, along with that of the Chinese authorities and the European Investment Bank, which has lent money to Saab.
Swedish Automobile chief executive Victor Muller, whose company is selling Saab, said he had so far only had a "brief dialogue" with GM about the planned sale, but hoped to convince them of the benefits of it.
"It is way too early to make a statement about whether this is going to be easy or not," he added.
(Reporting by Patrick Lannin and Mia Shanley)
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