Saab is welcoming today’s (4 July) approval from the European Investment Bank (EIB) for the SEK255m (US$40.7m) sale of its property division.
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.
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“We have announced today we have approved the property deal,” an EIB spokesman told just-auto, although he declined to comment on any other evaluations in its pipeline concerning Chinese interest in taking a stake in Saab.
“We are only confirming the property deal,” said the EIB spokesman. “It is for the latest property deal regarding Saab. We have approved the most recent proposal regarding the Saab transaction.”
The development was welcomed by Saab: “We are really happy the EIB has approved the deal and now we are waiting for the Swedish National Debt Office and the Swedish government for their approval,” a Saab spokeswoman in Sweden told just-auto.
There are suggestions the Swedish government could meet at short notice to discuss the issue, which continues to see Saab’s Trollhättan plant shuttered as the automaker negotiates a complex series of financial deals to see production restart.
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By GlobalDataAll employees were at the factory today to receive an update on the latest situation, which has seen interested Chinese companies Youngman and Pang Da move to binding agreements, although still subject to approval and probably not before this autumn.
