Business & Economy

Millions Missing in Spyker's Saab Buy

There are many questions surrounding Dutch carmaker Spyker's recent purchase of Saab. In an interview with Swedish newspaper Svenska Dagbladet, Spyker CEO Victor Muller admitted that he still needs to raise more than 24 million dollars for the deal to go through.

The former clothes executive is not worried, however. "We have many opportunities to see where the money will come from," Victor Muller said, adding: "We have half a year to do it."

Spyker's purchse of Saab will be financed by a loan of 550 million US dollars from the European Investment Bank—in addition to a loan worth 24 million dollars from Victor Muller himself, which he has in turned loaned from secret financiers.

But despite pressure from the Swedish government and the media, Muller refuses to reveal who is behind the money, though he readily denies that Dutch billionaire Marcel Boekhoorn has anything to do with the millions.

Sweden's Minister of Enterprise Maud Olofsson is not certain that the sale will go through.

"There are still a number of puzzle pieces left," she told news agency TT. "The European Investment Bank has to award the loan and then the commission has to approve it and wind up the affair. It will be an incredible challenge."

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