Sale of Saab Property Ongoing image

Spyker Cars N.V. (Spyker) announces that discussions about the sale and lease back of the Saab property are still ongoing as indicated in earlier statements. Spyker expects to make an announcement about the sale of the Saab property shortly, provided that final agreement has been reached.

The building sale would provide Saab, owned by Dutch company Spyker, with about 280 million Swedish crowns in cash, newspaper Dagens Industri said on Monday citing unidentified sources.

Saab halted production again last week, having briefly restarted work after a cash crunch resulted in a seven-week stoppage.

In other news Saab Automobile’s Dutch owner Spyker Cars NV Monday signed a new deal with two Chinese firms which, if cleared by regulators and existing investors, would effectively put control of the Swedish auto maker in the hands of the Chinese companies.

Such a move would mean, with Volvo Cars already Chinese-owned, that Sweden’s automotive sector will be controlled from China.