Spyker confirms talks to sell Saab real estate
AFP/The Local · 11 Apr 2011, 12:20
Published: 11 Apr 2011 12:20 GMT+02:00
- No resolution for Saab's cash crisis (09 Apr 11)
- Saab production halted 'until further notice' (06 Apr 11)
- Saab payment ‘glitches’ continue (05 Apr 11)
"The outcome of the discussions is still uncertain and subject to the approval of the Swedish National Debt Office," it said, adding "further announcements will be made shortly."
Saab said last week it was suspending car production until further notice as a conflict with suppliers over unpaid bills rendered supply unstable.
Production had been halted three times the previous week, but last week's halt was the first time since Spyker bought Saab in January 2010 that the carmaker was forced to halt production without a set date for starting it up again.
Sweden's National Debt Office has a say in Spyker's business because it guaranteed a European Investment Bank (EIB) loan to Saab.
The announcement sent Spyker shares slightly up 2.56 percent to €4.19 on the Amsterdam stock exchange in early trading on Monday.
Before being rescued at the last minute by Spyker, iconic Swedish carmaker Saab spent 20 years under US auto giant General Motors, during which time it did not turn a profit.