Saab says General Motors has sent a number of questions to Sweden concerning its proposed 100% acquisition by Chinese manufacturer Youngman and distributor Pang Da.
Former Saab owner GM has raised its queries as Saab noted the memorandum of understanding period given by the Chinese would end on 15 November.
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“They [GM] have sent a number of questions to Saab and we are working through those and are answering them,” a Saab spokeswoman in Sweden told just-auto. “We don’t see this as a setback – we are hopeful we can come to a way forward.
“The 15th [November] is when the MoU expires and we hope to have GM approval by the 15th. This is to be expected. GM has to protect their own interests and will act in their own interests. We will have a dialogue with them that comes to a mutually agreed point.
Last week GM told just-auto: “Like other suppliers to Saab, we do not have any information about the proposed transaction. Therefore, it’s impossible for us to comment on the situation.”
However, reports circulating indicate GM would not back a change in Saab ownership that could affect its business in China.
Saab’s IF Metall union representing its blue collar staff succeeded last week in persuading the Vanersborg District Court to allow an oversight committee to be set up to scrutinise the transition period from its current status to any potential Chinese ownership.
The unions have a particular interest in Saab’s financial health as they endured several months of late salary payments during the summer before the Swedish government stepped in to guarantee wages following the automaker’s entry into voluntary reorganisation.
GM in Europe was not immediately available for comment.
