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Koenigsegg countdown to seal Saab deal

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13:59 CEST+02:00
The buy-out of Saab Automobile by the Koenigsegg Group hangs in the balance after co-owner Bård Eker states the company could withdraw if business is not concluded in the next few days.

According to an article in business daily Dagens Industri the deal is at risk of caving in. "If things aren't in place by September 30, then we are out," Eker told Norwegian newspaper Dagens Næringsliv.

Eker also told Swedish Radio there are many milestones to be reached if the deal is to be settled by Wednesday.

They include negotiations with the European Investment Bank (EIB) over a loan of around four billion Swedish crowns as well as discussions with Sweden's National Debt Office (Riksgälden) to secure the EIB loan.

Saab intend to use the money to develop new technology in the areas of environment and security.

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