Saab will finally sells property


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Tuesday, 28 June 2011
Saab Automobile sells 50.1 percent stake in Saab Automobile Property to a consortium led by Hemfosa Properties. This has been one of the strongest crave of Saab to pursue this move so as to raise badly needed short term cash.

Saab Automobile's parent company, Swedish Automobile has entered into a conditional agreement for the sale of the 50.1 percent stake in Saab Automobile Property AB for Skr255 million. The buyer is a consortium led by Hemfosa Property, according to a press release.

Buyers are entitled to 30 days after the completion of the transaction to increase its stake in the property, which means that the purchase price could rise to up to Skr300 million. Saab Automobile will sign a 15-year lease agreement with Saab Property.

Real Estate Company is now certainty for Debt office’s loan guarantee of €400 million. Debt asked now to release the pledge, which would mean that the loan guarantee is reduced by €120 million. That means Saab can borrow a maximum of €280 million from the European Investment Bank (EIB), of which €216.9 million had already been paid.
Saab information cheid speaking to swedish television (obb. in swedish - translation in the future)

"It is one of the tracks that we have worked with for a while to ensure a short term financial gain, "says Gunilla Gustav of Saab's information department.
"A good step in the right direction, so it feels great that we can move on with this today. This helps us to move forward with our suppliers so we can resume production. "
By Team

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