Swedish Government Wants Additional Assurances On Koenigsegg & BAIC Agreement

Posted on 01. Oct, 2009 by in 2000-2009

The Swedish Newspaper, Sydsvenskan reports that the Swedish Government wants to get some additional assurances between Koenigsegg & BAIC beyond their MOU agreement before they guarantee the EIB loan.

Here is the piece below, loosely translated by Google.

Swedish Government breathe some optimism about Saab’s chances of getting EIB loans, but Koenigsegg Group must develop closer ties with Chinese BAIC that not everything will fall.

GOTHENBURG. Joran Hagglund, State Secretary at the Ministry of Industry, has in recent days have not received any feedback from the European Investment Bank (EIB) on how to make themselves available for Saab Automobile loan of over four billion.

Should the EIB leaning toward saying no require immediate information, he believes.
– A ‘no’ means any kind of change. If they say yes, it is nothing strange, “he said.

TT: Do you expect a yes?
– You have a loan application and a process to properly granted and we have not counted on anything else. Then we have our process of negotiating government guarantees, “he says.

Joran Hagglund notes that Saab’s business plan is better since it has been a private investor. He then aimed at the Saab’s potential new owners Koenigsegg Group has signed a letter of intent, known as a MOU with the Chinese Beijing Auto, BAIC, which will inject the money missing.

But it takes more.
– The fact that there is an MOU with a Chinese investor is not enough. There must be more ready agreement that shows that money really will.

Before that, the government will not go to the commission and make a so-called notification formally launch the Commission’s evaluation. Without authorization from there, no loan money is paid. A clear agreement with BAIC is essential also for the State to be able to provide the necessary loan guarantees.

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