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Spyker cash crunch prompts Saab sale-leaseback talks

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Spyker cash crunch prompts Saab sale-leaseback talks

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Spyker, the loss-making Dutch owner of Saab, is addressing a cash crunch by moving to sell and then lease back the Swedish carmaker’s factories and other property.

Spyker said the company has a short-term cash shortage but is not facing collapse.

Production at Saab’s Swedish plant has been disrupted for two weeks because some suppliers have refused to deliver parts, saying they have not been paid.

A suppliers’ group has said companies are owed tens of millions of crowns.

Spyker did not indicate how much it could raise from a sale and leaseback deal, but in its annual report, it said that Saab Automobile’s property, plant and equipment was valued at 248.4 million euros at the end of 2010.