Vladimir Antonov’s holding company director, Lars Carlstrom, is frustrated at the time taken by the European Investment Bank (EIB) ratification process involved in a refinancing package that he says carries “no risk”.
Russian businessman Antonov has offered to buy Saab property in exchange for a 30% stake in the automaker but the process is a taking considerably longer than Carlstrom envisaged.
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“Antonov is going to continue with this until it is done,” Carlstrom told just-auto from Sweden. “He is confident to save Saab…but I am not confident with the EIB process.
“It is no risk – Saab would look to borrow less money than they do today. It is taking far too long with this bureaucratic process. The Swedish state is fully secured and has absolutely zero risk…there are around 110 lawyers working on this and we are still not there.”
The issue is further complicated however, by the EIB noting yesterday (26 April) there was no final approval from Saab’s former owner GM concerning the liquidity package, although Carlstrom maintained: “I don’t think GM is a problem, we have no clue what the problems are.”
A GM spokeswoman in Zurich told just-auto this morning: “GM is in discussions with both the EIB and Saab on a variety of matters but it would be premature to discuss any details at this time.”
The impasse means however, Saab’s factory in Trollhattan continues at a standstill as all parties try to reach agreement that would see suppliers paid and work restarted.
Saab this morning told just-auto it could take less than a week to start production should a finance deal be accepted.
