EU approves Swedish guarantee for loan to Saab

Mon, 02/08/2010 - 07:25 EDT
 

The EU's competition watchdog on Monday approved Swedish plans to act as guarantor for an European Investment Bank (EIB) to automaker Saab.The European Commission ruled that 83 percent of the 400-million-euro (600-million-dollar) loan was in line with temporary EU rules on state aid measures, drawn up to help companies through the economic and financial crisis.The remaining 17 percent will be provided on market conditions and therefore does not constitute state aid, the commission stated.

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