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Saab CEO says in talks on 500 mln euro state guarantee-paper
February 25, 2009 / 7:14 PM / in 9 years

Saab CEO says in talks on 500 mln euro state guarantee-paper

FRANKFURT, Feb 25 (Reuters) - General Motors’ (GM.N) Saab Automobile unit is negotiating with the Swedish government over a loan guarantee of 500 million euros ($637 million), Saab chairman Jan-Ake Jonsson said in a Wednesday prerelease of a newspaper interview.

“We will continue our intensive discussions with the Swedish government in the coming days,” he told German daily Frankfurter Allgemeine Zeitung.

He said there are a “handful of parties” interested in acquiring Saab and that these include carmakers as well as financial investors.

He said a condition for the loan guarantee is that the government approves the restructuring plan, which includes the concentration of all activities at the Swedish plant located in Trollhattan.

On top of that, the government also wants to be assured that the money obtained through the state guarantee will not be transferred to parent GM in the United States, he said.

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