P&A Providers & Administrators
MenuMENU
SearchSEARCH

Spyker Seeks To Raise Cash For Saab

April 12, 2011
2 min to read


AMSTERDAM - the owner of Swedish car maker Saab Automobile, said Tuesday it has asked the Swedish National Debt Office to allow it to sell and lease back Saab properties to secure the funding it needs to resume production.


Spyker reiterated in a statement that it is in talks with several parties to secure short- and medium-term funding. It said it hopes to give more details before Thursday, depending on whether the Swedish debt office approves the request.

Ad Loading...


The statement comes a day after Spyker said that it was in talks with a financial institution controlled by Russian financier Vladimir Antonov for the sale and leaseback of Saab Automobile's real-estate operations, reported The Wall Street Journal.


Mr. Antonov, who was forced by General Motors Co. to withdraw as a Spyker shareholder before the U.S. giant sold Saab to Spyker, has said that he would be willing to invest €50 million ($72.1 million) in Saab.


Legal documents outlining Saab Automobile's assets in March 2009 valued the company's buildings and grounds at 915 million Swedish kronor ($146.1 million).


The Swedish National Debt Office said Tuesday that it continues its work on trying to resolve Saab Automobile's financial problems, but declined to go into detail. "We are working hard to find financial solutions for Saab and we have been for some time," said debt office spokeswoman Unni Jerndal, adding "there's been a lot of late nights and early mornings."


Saab's production currently is halted because it has been unable to pay its suppliers. Spyker said Tuesday it expects to be able to resume production within a week of receiving new funds.

Ad Loading...


The Swedish National Debt Office, which overseas state-backed guarantees for €400 million in European Investment Bank loans to Saab Automobile, said last week it could release some collateral put up by the car maker to secure the guarantees. The collateral consists of pledges of shares in three holding companies for Saab assets: real-estate arm PropCo., tool operations ToolCo., and spare-parts business PartsCo.


"The Swedish National Debt Office has been requested to release its pledge in the shares of Saab Automobile Property AB in order to enable Saab Automobile to use this property to secure further funding. This is one of the funding scenario's Saab Automobile is currently working on," Spyker said in a statement.

More Industry

Photo of gray SUV plugged into public electric-vehicle charger in parking lot
Industryby Hannah MitchellJuly 21, 2026

World EV Adoption Set to Grow

A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.

Read More →
Bar chart of truck and SUV segments' weekly value change
Industryby StaffJuly 21, 2026

Black Book: Weekly Market Update

Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.

Read More →
laptop with blue car on screen on a shopping website, Clear Costs Convert
Industryby Lauren LawrenceJuly 21, 2026

Pricing Transparency Drives Purchase Consideration

An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.

Read More →
Ad Loading...
Bar graphic of used-car segment weekly change
Industryby StaffJuly 14, 2026

Black Book: Weekly Market Update

Used-vehicle market depreciation was the prevailing story in the wholesale market last week.

Read More →
Light-blue Fiat car parked on a sunny Chicago street
Industryby Hannah MitchellJuly 14, 2026

Smaller Is Looking Better

A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.

Read More →
man sitting at desk using calculator with charts in front of him, to-go coffee cup on desk, rising and falling data chart in front
Industryby Lauren LawrenceJuly 14, 2026

U.S. EV Market Slowly Stabilizes

U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.

Read More →
Ad Loading...
blue background, map of the world with connecting lights and an electric vehicle emblem in the middle
Industryby Lauren LawrenceJuly 8, 2026

Global EV Market Entering New Phase

Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.

Read More →
Bar chart showing week-over-week wholesale automotive price change
Industryby StaffJuly 7, 2026

Black Book Weekly Market Update

The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.

Read More →
Photo of Honda CR-V SUV on two-lane road next to roadside trees
Industryby Hannah MitchellJuly 1, 2026

Auto Affordability in Context

Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.

Read More →
Ad Loading...
Line chart of used-vehicle days to turn over past week
Industryby StaffJune 30, 2026

Black Book: Weekly Market Update

Automotive auction inventory increased last week, giving choosy bidders even more leeway.

Read More →