SWEDEN: Saab nudges nearer property deal with SNDO government letter
Sweden's National Debt Office (SNDO) has today (5 July) written to the government concerning Saab's plans to sell and lease back its property.
A statement from the SNDO said: "The SNDO's assessment is the state still has collateral to cover the guarantees provided, also without a pledge of shares in the current property.
"The SNDO considers it is possible for the state to release the mortgage limits in the property company Saab Automobile Property. [A] Decision on the issue will be taken by the Government.
A consortium of Swedish real estate investors, led by Hemfosa Fastigheter (the consortium) is believed to be the purchaser of 50.1% reflecting an adjustment to the transaction price for a one-year lease-free period, although no confirmation is yet available.
The Swedish government was not immediately available for comment.