Sports car company Spyker seeks cash to restart Saab
Wednesday 13 April 2011
The Dutch owner of Saab Automobile is scrabbling for cash to restart production at the beleaguered Swedish marque's factory in Trollhattan.
The sports car-maker Spyker is in talks with Sweden's National Debt Office (NDO) – which issued guarantees to Saab during the financial crisis – over plans to raise capital on the group's property. Vehicle production at Saab was halted at the end of last month because some suppliers refused to send more components until they had been paid.
Spyker said yesterday that a conclusion of the NDO talks was expected before tomorrow, with production able to re-start once a deal was done. "With additional funding in place to resolve outstanding payment issues, Saab expects it will be able to resume normal production within a week from the receipt of funds," it added said.
The real-estate deal requiring the NDO's sign-off is understood to be a sale-and-leaseback with a property group controlled by Vladimir Antonov – the Russian investor buying Spyker's sports car business.
He is keen to invest at least €50m (£44m) in Saab.
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