Saab gets green light for €400m loan

 

Brussels approves Swedish government guarantee that will allow Saab to access a €400m loan from the European Investment Bank under Europe’s state aid rules

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  • 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.

  • Sweden will guarantee a 400 million euro (563 million dollar) loan Swedish carmaker Saab requested from the European Investment Bank, Enterprise Minister Maud Olofsson said Tuesday, following GM's confirmation of Saab's sale to Spyker.

  • AFP - The EU's competition watchdog on Monday approved Swedish plans to act as guarantor for an European Investment Bank (EIB) to automa

  • Abandoned by US carmaker General Motors, Saab is still looking for a rescue plan, the Swedish government having also refused to help the company, despite impending bankruptcy. Saab will now try to obtain a loan from the European Investment Bank.

  • The Dutch group makes progress after its $400m purchase of Saab saves the Swedish brand from closure, but Toyota is held up by the withdrawal of some of its best-selling models

  • The European Investment Bank on Friday approved a 400-million-euro loan to automaker Saab.

  • US auto giant General Motors will not consider Dutch sportscar maker Spyker's renewed bid for Saab and is planning to shut down the Swedish brand, a Swedish newspaper reported Thursday."Saab's board had a short meeting yesterday. GM representatives were on the phone from the US. And the discussions were entirely about the shutting down Saab -- not about the new bid," wrote daily Svenska Dagbladet (SVD).GM announced last week it would wind down its loss-making Swedish unit Saab after breaking off sales talks with Spyker.

  • The European Investment Bank approved a loan of 400 million euros ($543 million) Friday to the automaker Saab Automobile.

  • Swedish government officials and unions were to hold crisis talks on Saab's fate on Monday, as analysts expressed doubts about Dutch sportscar maker Spyker's renewed bid for GM's loss-making unit Saab.The meeting was to be held just hours before Spyker's new bid expired at 2200 GMT on Monday."We have to try every possibility to save Saab," Swedish Enterprise Minister Maud Olofsson told Swedish radio a few hours before the meeting, adding however that she was skeptical about Spyker's chances of succeeding in saving Saab.

  • Swedish government officials and unions held crisis talks on Saab's fate on Monday as analysts expressed doubts about a renewed bid by Dutch sportscar maker Spyker for GM's loss-making unit Saab.The meeting took place just hours before Spyker's new bid was to expire at 2200 GMT on Monday."We have to try every possibility to save Saab," Swedish Enterprise Minister Maud Olofsson told Swedish radio a few hours before the meeting, adding however that she was sceptical about Spyker's chances of succeeding in saving Saab.

 
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