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Saab Approved by European Union for $546 Million Swedish Loan
17 hours ago ago from Automotive News & Auto Blog | Car Industry News & Blogs ~ Wide Open Throttle
Saab-Spyker is one big step closer to getting the $546 million loan it seeks from the European Investment Bank. Automotive News reports that the European Union has approved Sweden's offer to back the EIB loan, essentially clearing the largest hurdle remaining in securing the cash it needs. The EU considers roughly eighty percent ($437 million) of the loan to be state aid, and was subject to regulatory review. Securing the loan from ...
Related contentSpyker Secures Further Financing - EU Approves Swedish State Backing
5 hours ago ago from Worldcarfans
$25 million loan will allow Spyker to make scheduled payments to GM for the purchase of Saab. The loan from an investment group is contingent upon Spyker securing a EUR400 million loan from the European Investment Bank.
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