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Saab Auto may have to wait before receiving any money from Europe.

Saab Deal Delayed Again?

The already pressed for time Saab Automobile may have to wait until next year to receive the loan from the European Investment Bank. The reason - the EU commission has questioned Saab’s economic situation.

The loan is a condition for the sale to Koenigsegg and Chinese owned BAIC.  It is still uncertain what will happen if the deal is delayed further. Current owner GM has clearly stated that they wish to sever all ties with Saab by the end of the year. And Christian von Koenigsegg, the CEO of the Koenigsegg group, has previously made clear how crucial the time aspect is. He does not want to see any further delays to a time plan which has already been changed several times.

According to Swedish News Agency TT, the EU commission has asked for more detailed information into Saab’s economy. They want to ascertain that Saab was not in trouble prior to 1 July 2008 - e.g. before the financial crisis.

This pushes the procedure forwards and the final decision may not come until in the middle of January next year.  

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