EU edging closer to a decision on Saab loan
November 20, 2009 in News
TTELA have a report in today’s paper with several news points with regard to the European Union’s decision on Swedish aid to Saab in the form of loan guarantees.
Those blesses with Swedish language skills, click here.
Here are the dot points for the rest of you, via Google trans and my own limited skills of comprehension.
- Swedish government and KPMG provided a report earlier this week, which should go a long way to clearing up Saab’s financial status over the last 18 months.
- Bottom line: Saab weren’t insolvent during this period, which was the main point of concern.
- Swedish Industry Ministry say they’ve done all they can to expedite the matter and assist Saab in securing the loan.
- Note: EIB have already approved the loan, but EU decision is necessary.
- Decision could take up to two months, but should be much quicker as Industry Ministry has assisted to a great extent with information (thankyou, Industry Ministry)
- EIB loan is for 400mil Euros and Saab/Koenigsegg will contribute 578mil Euros.
- Loan is to be paid to Saab in nine instalments.
Another fantastic piece of work by TTELA’s man on the ground, Magnus Nordberg.
