Vladimir Antonov lined up an independent European bank for Saab deal

Article by Christian A., on April 18, 2011

Vladimir Antonov, a Russian businessman, has arranged an independent European bank to handle the payment transactions in a planned agreement to purchase property owned by Saab, which needs the funds to bring back its operations.

Representing for Antonov in Sweden, Lars Carlstrom said that the identity of the financial institution will only be disclosed once the national debt office of Sweden gives its approval for the agreement to proceed.

Last week, Sweden has given its conditional support for the deal, but demanded that any payments should take place through a European bank, which is not connected with Antonov.

Carlstrom said that the issue has already been resolved. The agreement is set up with a goal to rescue Saab from a cash-crunch this year. Its financial troubles have led to unpaid bills to suppliers and halted production at its facilities in Trollhattan, Sweden, for the last two weeks.

The government of Sweden has agreed to a buy-and-lease-back proposal of the debt office wherein Saab will sell its real estate, including the plant, to Antonov.

The automaker will then lease the property back. This setup could bring an initial 30 million euros ($43 million) to Saab.

The government has yet to determine its action with regards to putting Antonov back as a Saab shareholder. Because of the opposition from Saab’s former owner General Mortos Co., Antonov had been excluded from the original deal when Spyker bought Saab last year.

Topics: saab

If you liked the article, share on:

Comments

Recommended

Is there anything more exciting than a spoiler? Well, for those who didn't know, there are those who have already seen the Mercedes-AMG Project One (in the flesh) way before...
by - April 25, 2017
Does the Honda Passport ring a bell to you? This was the first ever SUV that was sold by the Japanese automaker, but it was not that successful compared with...
by - April 25, 2017
Wagon buyers who prefer their vehicle to be luxurious, you will have an entirely brand new selection at the latter part of this year. Porsche will start rolling out 4...
by - April 25, 2017
McLaren rejects the idea of creating anything other than a sports car. That means that vehicles that would be ideal for families such as an SUV or a crossover are...
by - April 25, 2017
The new and improved Opel Grandland X is out, and this large SUV is something the European market did not know they would need. Now measuring at 14.7 feet (4.48...
by - April 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries