Swedish government is unsure just how much Koenigsegg is to invest in Saab
26 June 2009

Saab may still need loan guarantees from the Swedish government, despite its imminent takeover by Koenigsegg, according to a minister.

Maud Olofsson, Sweden’s industry minster, says the government is still unsure just how much money Koenigsegg is set to invest in the ailing manufacturer. He added that Saab may still need crucial European Investment Bank (EIB) loans to secure its future, which would have to be guaranteed by the government.

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Last week, Saab owner GM agreed a deal with niche supercar maker Koenigsegg to sell the firm.

Olofsson said: “We still don't have any information about the amount of money they are willing to invest. And that is a key point. The other is the ability to lead the company.

“If it would turn out that they need loan guarantees in order to get a credit from EIB, then they should come to us. But it might not be necessary. You can't just assume that the government will be involved in this.”

She said it would be best if Koenigsegg could invest enough money in Saab to avoid any government involvement. Koenigsegg’s deal is backed primarily by US and Norwegian investors.

GM has said the deal is likely to include $600million (£363million) worth of EIB loans.

Mark Tisshaw

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