Setterwalls assist a new Chinese shareholder of the Saab automobile manufacturer NEVS

Setterwalls advises the Chinese City of Tianjin in a direct share issue in NEVS (National Electric Vehicle Sweden AB) which manufactures electric Saab cars.

After a court approved composition of creditors, the reorganization of NEVS was concluded in April 2015. Tianjin’s development company GaoXin BoHua Investment Co Ltd has now acquired a first tranche of shares for USD 20 million of the total contracted USD 200 million representing 30 percent of the shares in NEVS.