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The man behind the financial acquisition of Saab automobile...

Tuesday, 04 September 2012
The purchase of Saab was thanks to the Swedish-Chinese businessman, Kai Johan Jiang.
He is described by the Swedish business daily, Dagens Industri as the sole financier for the purchase of Saab Automobile. Japanese Sun Investment which was known to be a partner of the project is not reported to have been retained as a partner in the electric vehicle consortium, Nevs.

This is confirmed in the recent information provided when an investor dropped out, and that the whole affair seemed threatened to crack, the paper writes.

Kai Johan Jiang is reported to have invested Skr1.8 billion to buy Saab Automobile's bankruptcy estate. The acquisition is financed by him selling assets in his National Modern Energy Holding, a Hong Kong based company of which he is the principal owner.

"The deal is thus entirely financed with equity, without any funding, "said Karl-Erling Trogen, president of Nevs, to the paper Dagens Industri. As such the earlier consortium partner, Sun Investment is reported to not being retained.

At this moment it is reported that the company Nevs is currently negotiating with Japanese, Chinese and other international stakeholders to join forces in the project.

National Modern Energy Holding is registered in the British Virgin Islands and based in Hong Kong. Thus it does not need approval from Chinese authorities to buy Saab Automobile's bankruptcy Estate, the paper adds.
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