Youngman and Pangda submit case for Saab to NDRC
Published July 28, 2011
Saab and Pangda have finally come forth with a plan to save Saab from the history books, the plan has not yet been made public but will be submitted to the National Development and Reform Commission (NDRC) within the next 30 days. The NDRC is the all powerful body that oversees all major business developments in the Chinese market and all overseas investment exceeding 100 million USD.
The three way joint venture will be majority controlled by Youngman with 34% and Saab and Pangda each taking 33%, the board of directors will be made of up 5 people with 2 coming from Saab, 1 from Youngman and 1 Pangda representative making it to the table.