17 thoughts on “EIB aproves real estate deal”

    • Or it could also mean that the EIB did its own review, independently of the NDO, and is now starting to move ahead with the SAAB file.

    • Or maybe they began feeling some of that (turbo) pressure being put on the Swe govt to get their act together…

  1. For the info-hungry, here’s an -as usual- somewhat understandable Google translation of the Aftonbladet article:

    EIB approves Saab Business
    Requires more approvals: Notification from the Debt Office can get today – when the government promises swift decision

    European Investment Bank (EIB) agree that Saab is selling the property.

    This was announced by the bank just now – and the news came as a pleasant surprise for the people at Saab.

    – There seems to be, says Ms Gustav, the press service, having been double-checked.

    European Investment Bank (EIB) announced on Monday that they give the green light to Saab’s property.

    – Real estate transaction is approved, says Pär Isaksson, press officer for the Nordic and Baltic countries on the Bank, said.

    Real Estate Sales provides much needed automaker 255 million crowns in cash. But can not Saab’s employees and management exhale.

    – We have never had any concern that they would not accept this. But the fact remains that the Debt Office and the Swedish government must accept this also. We will not hesitate even a second – but we must wait for their answer, says Ms Gustav.
    “Very positive”

    Real estate company Hemfosa leads the consortium of property investors who have long negotiated to buy the property Saab Property.

    The deal has been delayed because it needed approval from both Swedish, European and Chinese side.

    – It’s very positive that the EIB says yes. But we need the Swedish Government and the Debt Office’s approval for the deal actually going through. We are hoping for a response from the Debt Office and the government soon, says Gustav.
    Can get more information today

    Eric Geers, Director of Communications at Saab, dare not say whether the relatively quick announcement from the Bank can influence the Debt Office and the Government to accelerate the decision-making process.

    – We believe that the former can come up with their answer later today or tomorrow, he said.

    The government is still awaiting the Debt Office’s review of Saab’s real estate sales. When the government gets the case on his desk so it will be handled promptly.

    – Then the government will make a quick decision, said Erik Bratt Hall, Press Secretary to Maud Olofsson said.

    He says there can be talk of an extraordinary cabinet meeting to deal with Saab’s real estate business. Regular government meeting is on Thursday.
    Money to pay debts

    Hemfosa plan was to buy 51.1 percent of the real estate section – which since Saab will rent back.

    It is simply that Saab needs to release money for current expenses and liabilities.

    – I can not go into it specifically, but this would greatly contribute to the short-term financial gain that we need to agree with our suppliers and to be able to restart production. It is our top priority now.

    Saab stood just in time for midsummer in wage payments. Delayed, employees, according to Ms Gustav, now received their wages.

    The money that is now expected to come in through the sale of property go to learn that among other things, cover the next paycheck.

    – We do not comment in more detail how we will use the money, but this is good for our needs now, says Ms Gustav.

    Aftonbladet have searched Hemfosa for comment.
    Anna Alexandersson

  2. Latest news from P4 West:
    Unni Jerndal at NDO is currently preparing a letter to the Government for Saab. The Government may get it little later tonight.

  3. Woohoo, moe good news for Saab. Although, with fast EIB approval of the property lease deal, why are they so slow with the VA decision. This is also needed quickly.

  4. The EIB agreed so fast because the whole loan amount was reduced – and hemfosa wanted no shares in SWAN. Antonov wanted shares for his sale and leaseback deal – that´s why he pulled out of this way of deal.

  5. It seems like they are actually doing something down there in Brussels for a change… Now when things seem to be moving in the right direction they can hopefully approve Vladimir Antonov too. 😉

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