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.

Sunday, May 8, 2011

EIB reviewing Saab's ownership change applications

Swedish media reports today that the European Investment Bank (EIB) is reviewing Saab's application for future ownership changes. This includes a review of both Vladimir Antonov and Hawtai Motor. But the EIB can not give any information on when their work will be completed. To TT the vice president of EIB, Eva Srejber, said the following:
- In my experience, generally review of ownership changes often takes time because we do not receive the information we need. We look at how a ownership change will affect the business plan, financial plan and the project - in this case research - that we finance.

On the claims that the EIB is working too slowly, Srejber said the following:

- We have reacted quickly. We understand, however, the concerns of those who work for Saab, but we have a mandate from our shareholders to monitor and evaluate the projects we fund.

She could not say when the EIB's work will be finished, but she said that if all necessary information was made available for the EIB, the reviewing process could go quickly.