Cash-strapped Swedish carmaker Saab Automobile has signed a preliminary agreement to sell a 50.1% share in its property portfolio, including the company's factory in Trollhättan, to a consortium of Swedish real estate investors led by Hemfosa.
Cash-strapped Swedish carmaker Saab Automobile has signed a preliminary agreement to sell a 50.1% share in its property portfolio, including the company's factory in Trollhättan, to a consortium of Swedish real estate investors led by Hemfosa.
The deal, worth SEK 255 mln (EUR 28 mln), should allow production to resume at the Saab plant where protests from unpaid workers have been rising in the past weeks.
Saab, which is owned by Dutch car maker Spyker, is taking a 15-year lease on the assets, according to Swedish news reports.
The company first announced in April that it planned to sell its real estate to help address an acute liquidity crunch.
