Business News

Jun 11, 2009, 14:42 GMT

Swedish government shifts into gear over loans to Saab

Stockholm - Troubled Swedish carmaker Saab Automobile was Thursday reported to be moving closer to finding a new owner, sparking preparatory moves by the Swedish government. The government has instructed the National Debt Office to prepare talks with Saab Automobile and a new possible owner over state loan guarantees, State Secretary Joran Hagglund said Thursday. Current owner US giant General Motors (GM) has stated its intention to shed the Swedish brand that has since February been under bankruptcy protection as it attempts to reorganize its business. 'This should be seen that our understanding is that talks between GM and other parties are in intensive final stages,' Hagglund told Swedish radio news. The National Debt Office was to be 'on standby' in order to enable the process, should state loan guarantees be needed, he added. The government has to date held off on offering state loan guarantees to Saab Automobile, saying it needs to get a clear picture of Saab's new owner before putting taxpayer's money at risk. News reports suggest three groups are vying for the company. A Saab spokesman was quoted as saying developments could be 'rapid but we will have to wait a little longer.' Saab's bankruptcy protection was recently extended to August 20. GM's interest in Saab - one of Europe's smallest carmakers - dates back to the early 1990s. The company took full control in 2000.

And Also

The Decade: Film's 10 Best Music Moments In The Aughts

The Decade: Film's 10 Best Music Moments In The Aughts - Cinema Blend
GASP: Goldstriker creates world's most expensive iPhone - The Tech Herald
Such Great Heights: Did You Know They Were That Tall (or Short)? - PopEater
Chris Rock interview, Sons of Anarchy and Woody Allen shout out for 'Madagascar' star

Your Talkback on this Story

Similar articles

Sport car maker Koenigsegg set to purchase Saab (News Feature)
Report: Sweden's Koenigsegg purchases Saab (Roundup)
Swedish premier defends decision to hold off loans to Saab (Roundup)
Swedish premier defends decision to hold off on loans to Saab
Volvo Cars and Swedish government freeze talks on state guarantee

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

Drug-addled teenager rips off his own scrotum. Kid's got ba .... wait, no he doesn't [Scary]
Police baffled by a string of bizarre cattle mutilations in southern Colorado. Local chupacabras fear they'll be blamed [Strange]
Today's Friday Photo Fun from our pals at TSG is a tough one. What rock band once required a certain "themed" magazine in their concert rider? Contest ends at 6pm Eastern [Amusing]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint