Business

Spyker Cars planning Saab property deal to raise cash

Saab sign
Image caption Spyker bought Saab from US group General Motors in 2010

Dutch carmaker Spyker Cars has announced it is in talks to sell and lease back the property portfolio of its Saab subsidiary.

Spyker said it would use the cash raised from any property deal to pay suppliers.

Production at Saab's Trollhattan plant has been suspended for two weeks as some suppliers have refused to deliver parts, citing lack of payment.

Spyker bought Saab from US group General Motors in 2010.

That takeover was backed by a 400m euro ($578m; £354m) loan from the European Investment Bank.

Spyker is currently in talks to try to refinance this loan, which the Swedish government guaranteed.

The Swedish government also has a veto over the property deal.

In a statement, Spyker said: "The outcome of the discussions is still uncertain and subject to the approval of the Swedish National Debt Office.

"It is expected that further announcements will be made shortly."

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