Saab reaches conditional agreement to sell and lease back property

Saab

Here is another Saab update for you following yesterday’s announcement of the company getting an order to purchase 582 Saab vehicles with a value of EUR 13 million ($18.5 million USD) from an undisclosed Chinese company.

Swedish Automobile (formerly known as Spyker Cars) announced today that Saab has reached an agreement with respect to a sale of 50.1% of the shares in Saab Automobile Property AB with a value of EUR 28 million ($41 million USD).

A Swedish consortium led by Hemfosa Fastigheter AB, will purchase 50.1% of the shares in Saab Property for a total $41 million.

Saab Automobile will enter into a lease agreement with Saab Property for a duration of 15 years. As joint owners, the Consortium and Saab Automobile seek to further develop the property.

– By: Omar Rana