19 Apr '11, 12am

Money - Saab, counterparts agree on govt's lifeline terms: STOCKHOLM - DUTCH group Spyker's ailing Swedish carma...

Money - Saab, counterparts agree on govt's lifeline terms: STOCKHOLM - DUTCH group Spyker's ailing Swedish carma...

An unveiled 2012 Saab 9-4X crossover being examined by members of the media in the Los Angeles Auto Show in 2010. -- FILE PHOTO: AP STOCKHOLM - DUTCH group Spyker's ailing Swedish carmaker Saab and its counter-parties have agreed in principle on demands set by the government for backing a deal to free up much-needed cash, Sweden's debt office said on Monday. The government on Friday gave conditional backing for cash-strapped Saab to sell real estate, including its production plant, to Russian businessman Vladimir Antonov and then lease it back. The government's conditions were that Saab get a market price for the property, that questions about Mr Antonov be cleared up, and that money for the purchase come from a European bank without links to Mr Antonov. 'We have held talks over the weekend based on the three demands that the government made on Friday. There is now an agre...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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