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Saab fights on
The creditors' meeting approved the composition and reconstruction efforts continue. Youngman and Pang Da now recommend two alternatives in which the two Chinese companies acquire 100 percent of the company from Swedish Automobile and plan for major investments moving forward.
All that remains is approval from GM, China's National Development and Reform Commission and the Swedish National Debt Office. Saab will also present a savings plan involving the departure of 500 employees from the company. On November 7 GM announced that it would not approve the new Chinese owners' acquisition of 100 percent of Saab. Negotiations continue.
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