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 27, 2011

EIB unwilling to loan Saab more money

According to Svenska Dagbladet, the European Investment Bank is not willing to loan Saab more money. The EU rules says that the bank can not loan money to "unhealthy" companies, and with Saab's recent financial difficulties, Saab is considered unhealthy.

We also know from earlier that the CEO of Hemfose, the company who wants to buy half of the company Saab Property, has expressed that a purchase of the property is uncertain if Saab does not secure the other funding. The first part of the funding is secured through the sale of additional cars to China, but the second part, the EIB loan, now seems to be a hard nut to crack.

Svenska Dagbladet also reports that Victor Muller now is back in Trollhättan after visiting GM in Detroit. His visit to Detroit is believed to have been to try to work out a deal with GM as GM is Saab biggest supplier and also has preference shares in Saab.

In other words, Victor Muller still has his hands full of problems that needs to be sorted out.