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.

Monday, June 20, 2011

Saab to brief suppliers around midday

Swedish news agency TT reports that Saab will brief its suppliers around midday today. It is believed that this concerns the latest progress in securing the short-term funding of Saab. According to newspaper Dagens Industri, the sale of Saab's property to Swedish real estate company Hemfosa is very close to being finalized and the price should be somewhere around SEK 300 million, i.e. approx EUR 33 million.

Hopefully this will be enough to restart production and keep on going until the deal with Youngman and Pang Da is finalized.

When asked by Reuters when the production at Saab will be restarted, Eric Geers who is Executive Director of Communications, said "It will not be today. The staff is in place this morning but not today. We have no forecast, but we will try and restart it as soon as we can".

Geers would not comment on the newspapers reports that Hemfose is about to buy Saab's property.

Gunilla Gustavs, spokeswoman at Saab, could however to Swedish Radio P4 Väst confirm that a solution on the property issue was close.

Gunilla Gustavs at Saab tells Svenska Dagbladet that only the Swedish National Debt Office and the Swedish Government need to approve the sale. The European Investment Bank do not need to approve the sale as long as the Russian banker Vladimir Antonov is not the buyer. According to Daniel Barr at the Swedish National Debt Office, no application has been received from Saab regarding the property sale yet.