General Motors Co said on Thursday that the company has no objections to Antonov acquiring an ownership stake in Saab. Also, Sweden’s National Debt office says it has approved Russian investor Vladimir Antonov’s application to become part owner of Spyker Cars.
The decision means Spyker has cleared an important hurdle in its attempt to solve a liquidity crisis that has forced it to suspend production at the Saab plant in western Sweden.
“We haven’t found any reason to deny Antonov going in as a part owner in Spyker,” said Debt Office head Bo Lundgren.
Antonov has applied to buy as much as 30 million euros $44.4 million) for a stake in Saab of up to 29.9 percent.
Production has been stopped at Saab in Sweden since early April because the company cannot pay some suppliers and management has been pushing for Antonov to be allowed to buy into the firm and help it with its strained finances.
Swedish Prime Minister Fredrik Reinfeldt and Enterprise Minister Maud Olofsson meanwhile both reiterated Wednesday that the Swedish state did not plan to jump in and save Saab if it is unable to secure the financing it needs to stay afloat.
“We have done as much as we could,” Olofsson told news agency TT.
Saab was rescued at the last minute in January 2010 by Spyker, which bought it for 400 million dollars from GM and vowed to preserve the iconic carmaker.