Report: Sweden Grants Saab $610 Million Loan

Report: Sweden Grants Saab $610 Million Loan

Saab has secured a $610 million loan from the European Investment Bank after the Swedish government said it would stand behind the loan.

This may just be the last step in finalizing the sale of Saab to a group of investors headed by Swedish supercar maker Koenigsegg. The sale of Saab by General Motors to the Koenigsegg group was thought to be in jeopardy, as additional funding to invest in future Saab products was required.

Koenigsegg has said it is looking for additional investors in the company and recently announced that China’s Beijing Auto would become a partial investor.

Keonigsegg has said it hopes to finalize the sale wth General Motor by the end of October.

GALLERY: 2011 Saab 9-5

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[Source: Reuters]

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