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EIB Approves Saab Loan

Published fredag 12 februari 2010 kl 15.59
Maud Olofsson

Updated 16:21

The European Investment Bank (EIB) has approved of a 400 million euro loan to finance the takeover of automaker Saab by Dutch sportscar manufacturer Spyker. This practically means that the deal can now be concluded. Earlier, the Swedish government is expressed its determination to give loan guarantees for the deal.

Speaking at a joint press conference in Stockholm, the head of the Swedish National Debt Office, Bo Lundgren, and Minister for Enterprise, Maud Olofsson, announced that they have given the green light to go ahead with the Saab-Spyker deal. “The National Debt Office has approved of the government’s loan intentions”, said Olofsson according to the news agency TT. “Therefore the National Debt Office can now sign an agreement with the European Investment Bank”, added Olofsson.

Earlier, Spyker’s CEO Victor Muller said he expected the deal to be concluded next week if everything goes as planned. It is uncertain though when the regular production at Saab’s Trollhättan plant will start again.

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