Saab reach conditional agreement for sale and lease back of property

Swedish Automobile has announced Saab has reached a conditional agreement with respect to a sale of 50.1% of the shares in Saab Property with a transaction value of EUR 28 million.

The property consists of 483,000 m2 building space. The investors have the right to purchase additional shares to increase the amount to EUR 33 million on the same terms within 30 days after closing.

Saab Automobile will enter into a lease agreement with Saab Property for a duration of 15 years.

As joint owners, the Consortium and Saab Automobile seek to further develop the property, including a refinancing of the property at a later date when commercially feasible. Saab Automobile is being advised by Catella Corporate Finance.