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Published on December 19th, 2011 | by Seán Ward


Saab Files for Bankruptcy

Saab filed for bankruptcy this morning after months of financial uncertainty.

The bankruptcy file was completed at District Court in Vänersborg, Sweden, after a financial deal with General Motors fell through, and Saab’s Board of Directors decided to quickly resolve the situation.

A statement by Saab’s parent company, Swedish Automobile NV (Swan), said “Swan does not expect to realize any value from its shares in Saab Automobile and will write off its interest in Saab Automobile completely.”

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