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The last hurdle for spykers bid in saab in the ongoing saab ownership drama appears to have been over come with the EU approving Swedish loans to the automaker

By Drew Johnson

In what could be the last major hurdle in Saab’s transfer of ownership from General Motors to Spyker, Sweden’s guarantee of a European Investment Bank loan has reportedly been cleared by the European Union. The European Investment Bank is the official lending arm of the European Union.

According to Bloomberg, the European Union has backed Sweden’s loan guarantee for Saab. The loan should provide the ailing Swedish automaker with $547 million in cash, ensuring Saab can continue its technology development.

“This should make it easier for the EIB to approve the loan,” Johnny Kjellstroem, a deputy director at Sweden’s Ministry of Enterprise, Energy and Communications who is working on the Saab case, told Bloomberg. “I’m optimistic this will be resolved in the end.”

GM recently inked a deal to sell the Saab brand to Spyker for $74 million and $326 in preferred shares for the newly minted auto company. GM originally signed an agreement to sell Saab to Koenigsegg, but that deal fell through due to lack of financing.
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