Background
As a result of its strategic review of the global Saab business, The Saab Automobile AB board announced today that the company has filed an application under a self-managed Swedish court process to create a fully independent business entity that would be sustainable and suitable for sale.
As a result of its strategic review of the global Saab business, The Saab Automobile AB board announced today that the company has filed an application under a self-managed Swedish court process to create a fully independent business entity that would be sustainable and suitable for sale.
GM and Saab have explored all available options for funding and/or selling Saab and it was determined a formal restructuring would be the best way to create a truly independent entity that is ready for investment.
What happens next?
Saab will continue to operate as usual, while formulating an outline proposal for reorganization of its business together with the administrator appointed.
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