Saab plans to replace EIB loan to ease Antonov takeover: report
Clara Guibourg · 25 Jul 2011, 13:34
Published: 25 Jul 2011 13:34 GMT+02:00
"When the new loan is ready, Antonov is prepared to come in and take a owner's share of 29.5 percent," said Antonov's Swedish spokesperson Lars Carlström to DN.
Reports about Saab's plans are echoed by Svenåke Berglie, chairman of FKG, the trade association representing Scandinavian suppliers to the automotive industry.
"That is our impression. In the contract with EIB there are obstacles. Leaving EIB means that Antonov might be able to join without being approved," he said to DN.
According to Carlström, Saab's plan is to use their subsidiaries as collateral when securing a new loan.
"Saab's spare and accessories company alone, Saab Parts, is worth 3.5-4 billion kronor. There's a million Saab cars out on the roads that'll be needing spare parts within the next 20 years," said Carlström.
Eric Geers, Saab's information director, told DN that Saab would like to have a more flexible solution than the EIB's, but was otherwise unwilling to comment on reports that the company is planning to replace this loan with other financing.
Attempts made by The Local on Monday to contact Saab Automobile for confirmation of these reports were unsuccessful.