Liquidation possible
Source: Bloomberg News |
November 12, 2011, Saturday
|
Print Edition
Print Edition
SWEDISH Automobile NV, the Dutch owner of Saab Automobile, may liquidate even if it succeeds in selling the former General Motors Co brand, as the proceeds may not be enough to pay off creditors.
Swedish Automobile, which has tentative deals to dispose of Saab and its Spyker sports-car business, will consider "all of its options," including a voluntary liquidation should the deals pass, the Netherlands-based firm said yesterday.
The transactions would raise 132 million euros (US$181 million) and would be insufficient to cover the company's 136.5 million euros in debt, Swedish Automobile said.
Swedish Automobile, which has tentative deals to dispose of Saab and its Spyker sports-car business, will consider "all of its options," including a voluntary liquidation should the deals pass, the Netherlands-based firm said yesterday.
The transactions would raise 132 million euros (US$181 million) and would be insufficient to cover the company's 136.5 million euros in debt, Swedish Automobile said.
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