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.