STOCKHOLM – Sweden's debt office said on Thursday it had approved a new financing deal for Dutch-owned carmaker Saab and was now waiting for a green light from the European Investment Bank.
The debt office said in a statement that Saab had in recent days been working on minor adjustments to the financing agreement, which aims to solve a cash crunch at Saab which has halted production due to unpaid bills to suppliers.
"Now the debt office and Saab await approval from the European Investment Bank," it said in a statement.
Business daily Dagens Industri reported that the EIB wanted to alter the terms of the deal and was tearing up nearly every line of the proposal. No-one at the EIB was available to comment.
Spyker CEO Victor Muller told Reuters on Wednesday the financing deal was in its closing stages and he expected a final nod from the EIB.
Sweden last week gave conditional backing for ailing Saab, bought by Spyker last year, to sell real estate, including the plant, to Russian businessman Vladimir Antonov and then lease it back.
Sweden guaranteed a loan from the EIB to Saab worth 400 million euros, but under the financing deal the loan would fall to 280 million euros.