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.

Wednesday, June 29, 2011

Saab loans more money from Gemini

Saab has just issued a press release stating that the company, or it's parent company Swedish Automobile, loans an additional EUR 25 million from Gemini Investment Fund Limited.

This comes in addition to the EUR 30 million Saab loaned from Gemini in May. In other words, the total is now EUR 55 million. Both loans are convertible, and can thus be converted into shares. But in the press release it is made a point of the fact that the loan can be redeemed once funding from Youngman and PangDa is received and if so, the current shares in the company will not be diluted.

It is believed in Swedish media that Mr Vladimir Antonov is behind Gemini. If so, could this be a sign that he is certain that he will finally be allowed into Saab?