Wed, 13 Apr 2011: Antonov white knight for Saab…



The government is involved because it’s guaranteeing Saab’s 400 million euro loan from the European Investment Bank, the European Union’s lending arm. Spyker bought Saab from General Motors Co. in February 2010 for 74 million dollars in cash and 326 million dollars in preferred shares. Saab first suspended production on March 29 after suppliers stopped delivering components. Saab Chief Executive Officer Jan-Aake Jonsson said on April 4 that the Trollhaettan, Sweden-based company’s liquidity “became more strained” during the second half of the first quarter, declining to give more details. Gunilla Gustavs, a Saab spokeswoman, declined to comment. Frank Nilsson, chief of staff for Industry Minister Ma... Read the rest of this entry »

Comments are closed.