IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Saturday, April 9, 2011

Convers group's money approved for Saab

Swedish TTELA writes today that the Swedish National Debt Office and the Swedish Government have approved Convers Group as lender for Spyker Cars and Saab. This will be a loan that can be used by Saab to pay suppliers and restart the factory. It is also expected that owner of Convers Group, Vladimir Antonov, will be approved as new part owner of Spyker Cars, the parent company of Saab.

Picture from TTELA 

Antonov has earlier stated that he is ready to invest SEK 500 million in Saab and also finance the development of a new small Saab. In addition, he and CEO of Spyker Cars, Victor Muller, will also work to transfer Saab's loans from the European Investment Bank over to private banks. This will most likely mean that Spyker Cars and Saab will get a lower interest and that the loan can be used on more than just research and development which the EIB loans are earmarked for.

In other words, looks like it will work out for Saab!!!! :)