Saab takeover: loan of over 400 million euros approved

The planned takeover of the swedish car manufacturer saab by the small dutch sports car manufacturer spyker has taken important hurdles. After the european investment bank (EIB) approved a loan of over. When the swedish government approved a 400-million-euro loan in luxembourg on february 1, it immediately agreed to provide a guarantee for the same amount. In zeewolde, the netherlands, spyker shareholders simultaneously agreed to the terms of sale negotiated with general motors (GM) as the previous owner.

The only thing left for the takeover is the signing of the takeover agreement with GM, it was announced in stockholm. Sweden’s minister of economic affairs, maud olofsson, said on the radio that she is "delighted with the successful completion of a very long journey".

Until recently, the financing of the takeover by spyker boss and majority owner victor muller was considered questionable. Olofsson asked muller on the radio to name further unknown financiers of the takeover. According to media reports, the swedish secret service sapo had vetoed the sale of saab, which had already been decided, because it had identified the russian financial group antonov, which is accused of links to organized crime, as one of the financiers.

Production at the company in sweden, which as a GM subsidiary has almost always operated at a loss for the past twenty years, rose last year from 100.000 to just under 20.000 cars and is now at a standstill. Spyker wants to increase it to 120 within a year.000 vehicles.

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