Sweden's National Debt Office (SNDO) is remaining tight-lipped concerning today's (12 May) news that Saab and Hawtai have ended the proposed EUR150m (US$213m) investment by the Chinese automaker.

Saab parent Spyker Cars needed approval from the SNDO and the European Investment Bank (EIB) to go ahead with any change in ownership in the firm, according to the terms of an outstanding loan it has with the EIB.

However, an SNDO spokeswoman in Stockholm insisted any termination of the Hawtai deal did not end its work with Saab as it still had an application from Gemini Investment Fund to secure a EUR30m convertible loan agreement.

"The fact they [Saab] have ended their agreement with Hawtai does not affect our work," the spokeswoman told just-auto. "The Hawtai deal was an application concerning ownership we received.

"We are waiting for additional information from Saab. Hawtai is an issue for them, Saab is looking for capital, that is not an issue for us. We are working on hard facts. There is a second application which is Gemini, that we are waiting for more information on."

Hawtai in Beijing did not shed any light on the reason for terminating the deal, with a spokesman remaining coy on the Saab situation.

"At Hawtai we have not heard any message," a Hawtai spokesman in Beijing told just-auto. "I think for any new messages, the working team will inform me, but I have not got any new messages."

Saab was not immediately available for comment, although parent Spyker earlier today (12 May) referred to other "strategic" partners, with which to negotiate equity and debt, while also noting Chinese manufacturer BAIC had "indicated it does not have any problems with Saab's ongoing discussions with other Chinese partners."