Saab will get a boost in funds from the Swedish government.
In order to close the deal to purchase Saab from General Motors, it was announced late yesterday that Koenigsegg was guaranteed $610 Million from the European Investment Bank that the automaker requested.
The government said yesterday that they contacted the European Commission to confirm that it would provide the needed amount and that it would give a state guarantee.
“The deal still lives in our view. If we hadn’t believed in it, we wouldn’t have chosen to notify the commission,” Joran Hagglund, Sweden’s State Secretary. “It is now up to the EIB to assess Saab’s chances to borrow money.”
Hagglund said he hopes the EIB will decide on the loan by October 21.
October 6, 2009
Car News