BOC Unit, Ordos Fund Said to Enter Saab Acquisition Talks

(Beijing) – An Ordos-based government investment fund and a subsidiary of Bank of China have entered the negotiations ring to buy Saab, according to a report by 21st Century Business Herald on December 13.

Bank of China Group Investment, a Hong Kong-registered and wholly-owned unit of BOC, must first of all receive approval by the National Development & Reform Commission (NDRC) before participating in the deal, a source from commercial vehicle maker Zhejiang Youngman Lotus Automobile was cited in the newspaper.