* Saab assets pledged as collateral with Swedish debt office
* Spyker seeks sale, leaseback for Saab real estate
* Production to remain stalled through Wednesday-report
* Spyker shares up 0.5 pct
(Adds detail on Saab production, updates share price)
By Sara Webb
AMSTERDAM, April 11 The Dutch owner of Saab is
trying to sell and lease back the Swedish carmaker's real estate
to raise cash to pay suppliers and resume output, the company
said on Monday.
Production at Saab remained stalled on Monday and a
spokesman was quoted as saying the stoppage could last through
Spyker, the Dutch sportscar maker which bought loss-making
Saab from General Motors (GM.N) last year, has said the company
is not facing collapse but a short-term liquidity crunch.
"Spyker confirms that it is in discussion with a financial
institution on the sale and lease back of Saab Automobile's real
estate property," it said in a statement.
Spyker did not indicate how much it could raise from a deal
but it said in its annual report that Saab's property, plant and
equipment was valued at 248.4 million euros ($357.7 million) at
the end of 2010.
"The outcome of the discussions is still uncertain and
subject to the approval of the Swedish National Debt Office. It
is expected that further announcements will be made shortly,"
A suppliers' group has said companies are owed tens of
millions of crowns by Saab. [ID:nLDE7371YP]
Workers were sent home last week and Swedish news agency TT
quoted a Saab spokesman as saying production would remain halted
and employees allowed to stay home through Wednesday this week.
A Saab spokeswoman speaking separately to Reuters would not
confirm the report, saying the company would not provide a
timeline for returning to production until it made an
announcement on its financial situation.
Spyker shares were up 0.5 percent at 4.113 euros at 1434
GMT, outperforming a flat Amsterdam smallcap index .ASCX.
EYES ON RUSSIAN BUSINESSMAN
Spyker has said it is looking at several ways to raise money
and ease the cash squeeze.
A Swedish business daily reported last week that Spyker was
trying to release some of the collateral pledged against
state-guaranteed loans to raise funds.
"Almost all fixed assets of the Saab entities are held by
three direct subsidiaries of Saab Automobile," according to
Spyker's 2010 annual report.
"The shares in these three subsidiaries are pledged in
favour of the Swedish National Debt Office ("NDO") as security
for the guarantee NDO provided to EIB in relation to the 400
million euro loan from EIB to Saab Automobile."
Spyker is in talks with U.S. and European banks about
refinancing and increasing the existing 400 million euro credit
facility with the European Investment Bank (EIB).
In the longer term, Saab is hoping for an investment from
Russian businessman Vladimir Antonov, a move over which Swedish
authorities have the final say.
(Additional reporting by Niklas Pollard; Editing by David