Swedish government green lights Saab’s plans to raise cash


Saab is having a pretty bad month and is making headlines that put the brand and parent Spyker in some negative light. Here are just some:

After two production stops it was reported that Saab has tens of millions of crowns in unpaid bills to suppliers. Last we heard anything it was reported that the Swedish government is working to allow Saab to receive a commercial bank loan to avoid bankruptcy. Well, it sounds like they came to some consensus earlier yesterday and it looks like Saab may just survive… for now.

The Swedish government has reportedly gives Saab the green light to raise cash by selling its real estate to a Russian businessman Vladimir Antonov and leasing it back. Spyker needs the government approval for its plans since the government originally provided guarantees for Saab’s $580 million loan from the European Investment Bank.

Stay tuned to see what happens next.

– By: Omar Rana

Source: Detroit News