Sweden's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Koenigsegg countdown to seal Saab deal

Share this article

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.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

How to work 9-5 and travel the rest of the time

A full-time job shouldn't stop you from satisfying your wanderlust. The Local spoke to Travel After 5 blogger Alline Waldhelm to find out her tips and tricks for travellers who only have 25 days of annual leave.