Saab still sees Chinese approval for investment - Reuters

STOCKHOLM, Sept 7 | Wed Sep 7, 2011 8:53am EDT

STOCKHOLM, Sept 7 (Reuters) - The owner of ailing car maker Saab said on Wednesday that it was still confident of getting Chinese official approval for vital investments that are aimed at saving the company from bankruptcy.

Saab owner Swedish Automobile (SWAN.AS) earlier applied for court protection from creditors after months of production standstill.

It hopes that two Chinese firms, Pangda (601258.SS) and Youngman, will get the necessary official permission to invest in Saab.

"We of the opinion that the approval will be ... timely," Swedish Automobile chief executive Victor Muller told a news conference. He said approvals would come "relatively quickly". (Reporting by Patrick Lannin and Simon Johnson)

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