Swedish Government To Start Saab Automobile Credit Guarantee Talks
11 Juni 2009 - 3:45PM
Dow Jones News
Sweden's government said Thursday it has decided to let the
Swedish Debt Office prepare negotiations with Saab Automobile AB
regarding the terms of state credit guarantees for loans from the
European Investment Bank.
The decision means that the Debt Office can start negotiations
with Saab Automobile, the EIB, and the incoming owner, once known,
about the terms for state guarantees.
The guarantees would cover EIB loans for realigning Saab's
business toward more environmentally friendly production.
Before a government decision regarding the guarantees can be
made, the EIB will have to agree on the loan frame and in some
cases the European Commission will have to agree on the terms of
the state credit guarantee offering, the government said.
Saab Automobile AB is owned by U.S. carmaker General Motors
Corp. (GM).
Government Web site: www.regeringen.se
-By Gustav Sandstrom, Dow Jones Newswires; +46-8-5451-3099;
gustav.sandstrom@dowjones.com