Netherlands: Zhejiang Youngman Lotus Automobile Joins Hands With Pang Da Group To Make And Sell Saab Cars
Last Updated: 25 July 2011

De Brauw advised Chinese car manufacturer Zhejiang Youngman Lotus Automobile ("Youngman") on forming a strategic partnership with Saab's Dutch holding company Swedish Automobile and China's Pang Da Automobile Trade Co in a EUR 245 million (USD 352.1 million) joint venture to help rescue its struggling Swedish car manufacturer. Due to this joint venture new product Saab models can be developed (NPJV) by which the brand will be better positioned to meet demands in markets around the world and China in particular.

All parties continue working towards execution of binding agreements for a strategic alliance consisting of a tripartite distribution joint venture and a tripartite manufacturing joint venture for Saab-branded brand vehicles in China.

De Brauw advised Youngman on aspects of Dutch law and negotiated on behalf of Youngman on the various transaction documents.

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