Saab Future Uncertain As EU Probes $600M Loan

Law360, New York (November 30, 2009, 7:02 PM EST) -- Twisting in the wind after Koenigsegg Group AB abruptly backed out of its planned takeover of Saab Automobile AB, the General Motors Co. subsidiary reportedly is waiting for European antitrust regulators to determine if the Swedish government is allowed to guarantee €400 million ($600 million) in lifeline funding.

The European Commission is continuing to investigate whether Sweden’s offer to guarantee the European Investment Bank’s mammoth loan to the imperiled Swedish carmaker grades into improper state aid, Dow Jones reported.

Sweden directed the EC to look into...
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