Report: Sweden Grants Saab $610 Million Loan

Colum Wood
by Colum Wood

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

[Source: Reuters]

Colum Wood
Colum Wood

With AutoGuide from its launch, Colum previously acted as Editor-in-Chief of Modified Luxury & Exotics magazine where he became a certifiable car snob driving supercars like the Koenigsegg CCX and racing down the autobahn in anything over 500 hp. He has won numerous automotive journalism awards including the Best Video Journalism Award in 2014 and 2015 from the Automotive Journalists Association of Canada (AJAC). Colum founded Geared Content Studios, VerticalScope's in-house branded content division and works to find ways to integrate brands organically into content.

More by Colum Wood

Join the conversation