The Saabpocalypse is coming to a close as Swedish Automobile N.V. has terminated their partnership agreement with Pang Da and Youngman.

The Saabpocalypse is coming to a close as Swedish Automobile N.V. (Saab's parent company) has terminated their partnership agreement with Pang Da and Youngman.

According to Saab, the Chinese companies wanted to modify their original agreement to buyout Saab instead of taking a 53.9% stake in the company. Swedish Automobile says this is "unacceptable," but negotiations are ongoing.

The latest news follows Thursday's announcement that Saab's government-appointed administrator, Guy Lofalk, has decided to file paperwork to terminate the company's voluntary reorganization. Saab contests the move and will petition the court to continue the reorganization process and remove Lofalk as administrator. A decision is expected on October 28th, so keep an eye out for the grim reaper.

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