EU says will rapidly review Saab loan guarantee

BRUSSELS, Jan 27 (BestGrowthStock) – European Union regulators said
on Wednesday they would review as soon as possible Swedish
authorities’ plan to guarantee a 400 million euro ($562 million)
European Investment Bank loan to Swedish carmaker Saab.

Of the guarantee amount, 82.8 percent will have to be
scrutinised by the European Commission to see whether it
complies with state aid rules, Commission spokesman Jonathan
Todd said.

“The remaining 17.2 percent is considered to be remunerated
at market terms and hence deemed as no aid,” he said, adding:
“The Commission intends to complete rapidly its assessment of
the case.”

The loan is seen as key for Dutch sportscar maker Spyker’s
(SPYKR.AS: ) acquisition of Saab from General Motors [GM.UL].

Penny Stocks

(Reporting by Foo Yun Chee, editing by Dale Hudson)

EU says will rapidly review Saab loan guarantee