Another day, another chapter in the ongoing saga that is the survival of Saab. After yesterday’s order from a (yet unnamed) Chinese company, which temporarily solved its cash-flow problem, today the automaker announced that it has reached an agreement with a consortium of Swedish real investors led by Hemfosa Fastigheter AB, for the sale of 50.1% of Saab Property for a period of 15 years.
The company’s property consists of 483,000 m2 building space, for which Saab will receive € 28 million, with the consortium reserving the right to purchase, in 30 days after the deal is sealed, more shares for an additional €5 million, bringing the total to € 33 million.
In order for the deal to be completed, the Swedish National Debt Office, which guarantees the €400 million loan from the European Investment Bank, will have to release its pledge in the shares of Saab Property, otherwise the EIB will reduce the loan by €120 million.
Saab continues its efforts to secure additional funding and restart production, since the money it will receive will cover only its short-term needs.
