GM accepts Antonov into Saab’s management. EIB next huddle


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Wednesday, 29 June 2011
Saab's previous owner, American General Motors (GM) has changed and now gives the green light for Russian Vladimir Antonov to become part owner of the car manufacturer, according to reports in Swedish press.


The business daily, Dagens Industry on Wednesday reports that a deal is now done between GM and Antonov. The crux of the agreement is that the Russian financier takes over in a convertible Saab and GM have had.

The value of this convertible is reported to be Skr2.3 billion, but GM is now offering Antonov a substantial discount. Russians learn that he will pay somewhere between Skr800 and Skr900 million, writes Dagens Industry.

For Antonov to become part owner of Saab Automobile, it is also required however, will initially be granted by the European Investment Bank EIB. How the Russian's coming in will affect the automaker ownership structure is unclear, especially when the two Chinese companies Pang Da and Youngman have signed an agreement that could make them the majority owner of Saab.

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