Saab History Receives Clarity From Saab Automobile On Swedish Governments Request To European Commission

Posted on 06. Oct, 2009 by Ryan in 2000-2009

Saab History has requested and now has received more clarity on the European Investment Bank loan status from Saab Automobile’s Anna Petre, head of Government relations.

A thank you to her for giving us the details, particularly with the three remaining items listed below.

They have not granted the loan yet. The Government have asked the European Commission for a so called notification of the state guarantee. Since Sweden is a member of the European Union there are certain rules for when state aid is permitted and by this notification the EU Commission will see to that the state guarantee for Saab is ok according to EU regulation.

There are three parallel processes that have to be finalized (preferably in the same time frame) before we get the EIB loan. All three are on going and on track.

1. EIB application approved by the EIB Board
2. Finalize negotiations with the National Debt Office regarding the terms
of the state guarantee
3. EU Commission approval of the state guarantee (Swedish Government Seeks Approval On Friday)

Best Regards

Anna

Tags: Anna Petre, Automotive Component Group, EIB Board, EU Commission, European Commission, European Union, head, head of Government relations, Investment Bank, National Debt Office, Sweden