Spyker has secured the funding to complete the initial stage of its takeover of Saab from General Motors, the company has confirmed.
The Dutch sports car firm has received a $25 million (£16m) loan from Heerema Holding, a family business dealing in offshore oil and gas refineries.
The money will allow the takeover to progress, but Spyker still needs to secure a further $24m (£15.5m) of funding, which has to be paid to GM by 15 July.
“Spyker is confident that it will secure the funding for this second instalment,” said Spyker in a statement.
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