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Saab near to return of Russian investor


Saab near to return of Russian investor


Near-bankrupt car maker Saab has moved closer to having Russian businessman Vladimir Antonov return as an investor.

Antonov has to sell his shares in the Dutch group that owns Saab due to allegations of links to organised crime and money laundering. He has since been cleared.

Antonov, who owns banks in Lithuania and Latvia, aims to invest 30 million euros for a 29.9 percent stake.

The company has also finalised a cash injection from two Chinese firms.

Pang Da and Zhejiang Youngman Lotus Automobile are to buy shares for 245 million euros but that is still subject to regulatory approvals.

Zhejiang Youngman and Saab are to set up a Sweden-based joint venture to develop three new Saab models, the so-called Saab 9-1, 9-6 and 9-7. That joint venture is subject to regulatory approvals.

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