Spyker sees difficult situation for Saab image

Spyker raised doubts over whether it could quickly agree a cash injection for its Swedish brand Saab, ahead of talks on Tuesday with the European Investment Bank (EIB).

Saab got a conditional “yes” from the European Investment Bank (EIB) on a deal aimed at giving the Swedish carmaker a cash lifeline but has called the EIB’s terms tough and remains unsure when it will have enough cash to get production going again.

Saab wants to sell its plant and other real estate to Russian financier Vladimir Antonov and lease it back, providing it cash to pay overdue bills.

“The situation is extremely serious,” said Antonov’s spokesperson in Sweden, Lars Carlström to the Göteborgs-Posten daily.

The Swedish spokesman of Antonov, says to Sveriges Radio that the EIB demands are not reasonable. In order for EIB to accept Antonov’s purchase of the Saab manufactories, the EIB demands that the remaining loan must be amortised in a quicker pase than the original plan:

The newspaper thelocal has reported that Saab had sought a crisis meeting wit the Swedish government over the Easter weekend, but the government it is claimed rejected the request.