Pangda, China's biggest dealer by market value, and automaker Zhejiang Youngman agreed in June to buy a combined 53.9 percent stake in Saab for 245 million euros (2.2 billion yuan).

"We're optimistic about the deal getting approval from NDRC as we believe it is in line with government policies," Wang Yin, Pangda's board secretary, said in a telephone interview, referring to the National Development and Reform Commission. The two companies plan to submit the application in the next two weeks, he said.

Saab is close to getting a loan of about 1 billion kronor (1 billion yuan) to pay overdue salaries and avert a looming bankruptcy, three people familiar with the matter said. The automaker is betting the funds will hold it over until Chinese regulators approve Pangda and Zhejiang Youngman as investors.

The two companies have yet to set a time to submit an application to the Ministry of Commerce, Wang said. Overseas investments by Chinese companies require approval from various government agencies include the industry planner, trade and foreign currency regulators.

The loan to Saab would be provided by one of the five biggest European banks, said one of the people, who declined to be identified because the talks are private.

The Zeewolde, Netherlands-based carmaker, which General Motors Co. sold in 2010, first suspended production in late March amid a cash crunch, and the main factory in Trollhaettan, Sweden, has been shut since early June.

Saab delayed paying wages last week, the third consecutive postponement in as many months, prompting labor leaders to start a process that may lead them to seek a bankruptcy declaration against the carmaker if wages aren't paid.