Saab News: Antonov pulls out of Saab property deal image

Russian businessman Vladimir Antonov has withdrawn his proposal to buy Saab property, although he remains poised to invest in the automaker through other means.

“The property sale is now being discussed with external investors,” said Lars Carlstrom, Antonov’s representative in Sweden.

Antonov was still interested in becoming a shareholder in Spyker, (SPYKR.AS) the Dutch owner of Saab, Carlstrom added in an email.

Saab said on Monday, that Zhejiang Youngman Lotus will pay 136 million euros for a 29.9% share of Spyker and joint ventures to make and distribute Saabs in China. The new agreement will allow fresh investment into company, as car maker has been forced to stop production in Sweden because of financial difficulties.

Previously Saab had signed a deal with Pang Da Automobile Trade for a strategic alliance consisting of a 50/50 distribution joint venture (DJV) and a manufacturing joint venture (MJV) for Saab branded vehicles as well as for an MJV owned brand.