Report: Spyker receive loan guarantees from Swedish government

HOLD YOUR HORSES!!!

E24 reports that the previous stories were a bit premature. Someone in the Swedish press jumped the gun (again).

Debt Office denies ‘yes’ to the Saab Spykeraffären “

2010-02-11 | Posted 11:40 | Updated 11:58

Riksgälden say yes to the Saab Spykeraffären in its final report to the Government, as reported by TV 4 News on Thursday. The data, however, belied by SNDO CIO Marja Long.

– We are not finished with the final examination of whether the conditions are met, “she told E24.

– When the review is completed, it will be handed over to the government that takes decisions on the state guarantees, continues Marja Long.

This is getting ridiculous.

The prior report is below……

——

Reports are starting to come through the Swedish news services saying that loan guarantees have now been confirmed by the Swedish government.

From TV4.se:

Riksgälden say yes to the Saab Spyker

Riksgälden say yes to the Saab Spykeraffären in its final report to the government.

– We judge that there is adequate security, “said Deputy Eric Sjulander to Nyhetskanalen.se.

Before the deal is finally completed, the Government must act on the matter and the European Investment Bank, EIB, approve loans of about four billion crowns.

Conservative valuation

Erik Sjulander, Deputy Director of guarantees and loans in the Debt Office.

– We have made a valuation which we hired expert help and had a conservative approach. That is, we use a low value and assume things that Saab no longer manufactures cars. And our assessment is that there is adequate security, “he Nyhetskanalen.se.

– If the government issues a loan guarantee so we think they should do it according to the recommendations we give in the report, says Erik Sjulander.

Hopefully this positive outcome will be the catalyst for an EIB decision in the very near term.

I’ll post more if it comes to hand.

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