Breaking: Saab sells plant to investment group

Saab has announced that they have sold 50.1% of Saab Automobile Property to a consortium of Swedish real estate investors – a sale that brings the automaker 255 million Swedish Krona and a year of free rent in their Trollhattan production facility.

The investment consortium is led by Hemfosa Fastigheter and over the past week or so, Hemfosa was the key company expected to pull the trigger on the purchase of the Trollhattan plant. This investment group paid 255 million Krona (about $40 million USD) for 50.1% of the Property division which entitles them to a controlling share of the production facility and in exchange for a friendly purchase rate, Saab will get a full year of use of the facility without any lease payments. Also, the investment group has the right to purchase another 45 million Krona worth of the Saab Property division within 30 days after making the initial purchase. Based on the purchase price of the first 50.1%, an addition 45 million Krona investment would bring the consortium roughly 9% more ownership of the Saab property division based on the initial agreement but that amount could vary depending on a quite a few things – including input by the Chinese investors and the European Investment Bank (EIB).

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