Hawtai bows out of agreement with Spyker to rescue Saab

The strategic partnership between Chinese company Hawtai and Spyker Cars, owner of Swedish car-maker Saab, will not go ahead, reports the Financeele Dagblad.

Hawtai was to put €150m into Saab in the form of share capital of 29.9% and a convertible bond. Permission for the deal had to be sought from Chinese, Swedish and European governments.
That permission has not been forthcoming from the Chinese government, says the paper.
Spyker will continue talks with a number of other possible Chinese investors, including Great Wall Motor.
Cash-strapped Saab, bought by Spyker last year, has halted production for several weeks.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation