In order to green light Koenigsegg ’s plan to purchase Saab from General Motors, the Swedish government announced late yesterday that it would guarantee the $610 million European Investment Bank loan the automaker had asked for.
Sweden’s TT News Agency said that the government contacted the European Commission yesterday to confirm that it would give a state guarantee for the loan.
“The deal still lives in our view. If we hadn’t believed in it, we wouldn’t have chosen to notify the commission,” Swedish state secretary Joran Hagglund said. “It is now up to the EIB to assess Saab ’s chances to borrow money.”
Hagglund told TT that he hopes the EIB will decide on the loan by October 21.
