UPDATE 2-Swedish govt upbeat on Saab after meeting suitors
* Sweden prepared to give bridge loan if Saab finds buyer
* Swedish govt more optimistic on Saab than for long while
* A few suitors have presented government with their plans
* Plans include potential synergies, sales volumes (Adds state bridging loan comment)
By Sven Nordenstam
STOCKHOLM, May 20 (Reuters) - The Swedish government is optimistic about the future of carmaker Saab after recent meetings with potential buyers of the loss-making General Motors (GM.N) unit, a senior government official said on Wednesday.
State Secretary Joran Hagglund told Reuters the government had recently met with "a few" suitors who had presented their plans for the Swedish brand, but declined to say if it had held any meetings this week.
Saab said on Tuesday it had selected three suitors with whom it will continue take-over talks.
"Overall, we are more optimistic now than we have been for a long time regarding their future," Hagglund said. He declined to reveal the identity of the suitors.
"They (potential buyers) have described who they are, how their plans look, and their thoughts and philosophies on both leadership and long-term considerations and really have wanted us to understand their intentions," he added.
A spokesman for Enterprise Minister Maud Olofsson said that Sweden would be prepared to give a bridging loan to help the company manage a transition to new ownership.
In December, Sweden announced a 25 billion Swedish crown ($3.24 billion) package of aid to its car industry, five billion crowns of which was for emergency loans and 20 billion in longer-term loan guarantees.
"If Saab finds a new owner there may be a bit of a gap (in financing)," enterprise ministry spokesman Frank Nilsson said.
"So we are prepared to go in during that period."
He said that the condition for Saab to receive government money was that it find a new owner. He said no sums had yet been discussed, but that the government was very keen that the Saab brand survive.
"We are trying to do what we can to make it easy for Saab to find a new owner," he said.
The comments come as GM said separately that it expects at least three offers for its German unit Opel by Wednesday's deadline, with Italy's Fiat eyeing plans to form Europe's biggest automaker. [ID:nLK308277]
Saab this week sought an extension to a period of creditor protection granted earlier this year during which it can restructure and look for a new owner. GM has said it would cut ties with the brand by the turn of the year.
Saab said negotiations would be carried out during the remainder of this month to select a final candidate.
Hagglund said loan guarantees from the government also would have to wait until Saab had secured an owner committed to the brand. (Reporting by Sven Nordenstam and Simon Johnson; Editing by Carol Bishopric)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints



Follow Reuters