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Old 1st June 2012
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Post Youngman bids anew for Saab

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After withdrawing its original $492 million bid for Saab, Zhejiang Youngman Lotus Automobile has returned to the bidding with a fresh offer of $552 million, according to a report from Bloomberg. Right now, Youngman is bidding for Saab against a group comprised of a Japanese investment firm, Sun Investment and Hong Kong-based National Modern Energy Holdings.

As we told you earlier, the duo of Sun Investment and National Modern Energy Holdings has formed a new company called National Electric Vehicle Sweden, created with the sole purpose of buying up all of Saab's assets.

When approached by Automotive News Europe and Bloomberg, a spokesperson for the bankruptcy administration declined to comment on when a decision would be reached.Youngman bids anew for Saab originally appeared on Autoblog on Fri, 01 Jun 2012 17:30:00 EST. Please see our terms for use of feeds.



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