Seems that Saab, despite barely being able to find sufficient spare change for the meter to keep the lights on in recent months, might just be on the verge of sorting itself out.
Firstly, the cash-strapped Swedish car maker could be brought back from the brink after the European Investment Bank today approved its plan to sell a 50.1 per cent stake in the company that owns Saab's property (including its Trollhattan factory) - a deal worth £25m.
Secondly, Saab (or rather its Parent company Swedish Automobile, nee Spyker) has also today formalised a deal with China's Zhejiang Youngman Lotus Automobile Co. (catchy name) and Pang Da Automobile Trade Co. Ltd (a little more memorable) to develop a new 9-1 supermini, a 9-6x SUV and a 9-7 - er, well we don't actually know what a 9-7 would be.
That deal, although yet to be approved, is said to be worth around £221m, and would also open the way for Russian investor Vladimir Antonov, who has apparently said that he wants to put between £30m and £90m into Saab.
Now we'd be the first to admit that we don't know the ins and outs of in-depth financial journalism so we'll leave it there for now, but you can find out more by checking out the story on the Wall Street Journal's website...
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