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EIB says approves Saab property sale
July 4, 2011 / 1:02 PM / in 6 years

EIB says approves Saab property sale

 STOCKHOLM, July 4 (Reuters) - The European Investment Bank
said on Monday it had has approved Swedish Automobile's
SWAN.AS request to sell part of car maker Saab's property unit
to a consortium of Swedish real estate investors.
 Swedish Automobile last week signed a 28 million euro deal
to sell 50.1 percent of Saab's property unit to a consortium of
investors led by Hemfosa Fastigheter as part of efforts to ease
its cash crunch.
 "We have approved Saab's property deal," EIB spokesman Par
Isaksson said. "We have no further comments concerning Saab."
 Saab and Dutch parent Swedish Automobile have been
scrambling for cash since early April when unpaid suppliers
stopped deliveries, stopping production.
 The deal still needs approval by the Swedish government,
which declined to comment.

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