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.

Tuesday, July 5, 2011

Final property sale approval getting close

Updated with the approval from the National Debt Office

Yesterday the European Investment Bank approved the sale of 50.1 percent of Saab's property company. Saab's property company is the owner of the Trollhättan plant and other estates. To the Swedish news agency TT, Pär Isaksson, who is press officer for the Nordic and Baltic countries at the European Investment Bank, said "The real estate deal is approved". Isaksson would not make any further comments.

The Swedish National Debt Office and the Swedish Government also need to approve the sale before it is final. A spokesperson of the National Debt Office told Swedish media earlier today that their decision will be ready later today and that their recommendation will be sent to the Government.

"We will hand over our recommendation to the Government during the day, but we can not say exactly what time," said Linda Sjöblom from the National Debt Office's press department to

The Government will then have to make a decision whether to approve the sale or not. The spokesman of the Ministry of Enterprise and Energy would not estimate when the Government's decision would be done.

"Let's get the recommendation first. We are prepared to work as quickly as possible, but we must also take care to be accurate, " Håkan Lind from the Ministry said.
If the sale is approved, Saab will receive SEK 255 million. Which is much needed money in the challenge to convince the suppliers to resume deliveries so that the production of Saab cars can restart.

Update: This afternoon the National Debt Office has issued a press release saying that they approve the property sale. The Debt Office says that Sweden has more than enough collateral in Saab too free the collateral in Saab's property company. This means that the Government's approval remains before the sale is a fact.