Saab receives new loan from Gemini Investment Fund Ltd. The investment group issued a € 25 million ($ 36.2 million) bridge loan for the basic payments with interest rate of 10 percent per year. Swedish company expects another 109 million euros for a 24 percent of the company from the Chinese investment group Pang Da. Youngman wants to add another 136 euros million for a 29.9 percent for the Swedish automaker.
Swedish Automobile bosses said it hopes the deals mean it can now reach an agreement with suppliers and restart production within two weeks.
“I am relieved to report that we made the June salary payments this afternoon from the proceeds of the sale of cars we announced last Monday,” Swedish Automobile CEO Victor Muller said in a statement. “We have clearly gone through a very rough patch in the past few weeks and hopefully we can now reach agreement with our suppliers so as to ensure a resumption of our production in a controlled way.”
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Source : Associated Press
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