Swedish Saab dealers pledge up to $24 million to help Spyker

[NINETY EIGHT REGENCY]

Swedish Saab dealers pledge up to $24 million to help Spyker

02/05/2010, 1:40 PMBY ANDREW GANZ

With the formal deal for Spyker to acquire Saab from General Motors likely just days away, few questions have arisen about the Dutch supercar manufacturer’s ability to pay for the transaction. Still, Saab’s domestic market dealer network says it will provide 180 million Swedish krona ($24 million) to Spkyer to help with financing if it is needed.

“We have no doubt that Spyker can finance itself. But if there is a request we can offer help,” said Lars Ake Sund, chief of the dealer group, in an interview with Sweden’s Dagens Industri.

Spyker has until summer to come up with $180 million to fully acquire Saab from GM. The automaker’s CEO, Victor Muller, has said that financing will not be a problem, however.

“We who live near the business believe there is strong substance in Spyker’s business plan for Saab and the risk is not that great,” Peter Hallberg, president of the GM Dealers Association in Sweden, told the media.

link:

http://www.leftlanenews.com/swedish-saab-dealers-pledge-up-to-24-million-to-help-spyker.html