So you thought the Saab deal is done? A deal is never done until the check clears. Speaking of clearing, Laurence Stassen, a member of the European Parliament, and a member of the Dutch Partij voor de Vrijheid (a right-of-the-center party in the Netherlands) is seeking clarification from Competition Commissioner Neelie Kroes.
Vrouw Stassen wants to know if there is any forbidden state aid involved in the Saab/Spyker deal, the Dutch news site NU.NL reports. The Swedish government guarantees a loan of €400m, which Spyker then is supposed to get from the European Investment Bank. Spyker is, well, banking on that money.
The matter is especially iffy as €320m of the money comes from a special European fund set up to support the development of environmentally friendlier cars – and funds need to be used for that purpose, writes the Dutch Financieele Dagblad. Keeping the lights on in Trollhättan while GM delivers parts doesn’t quite fit the purpose.
Neelie Kroes is supposed to answer another inconvenient question from Ms. Stassen: ”Who will ultimately pay the bill if the takeover fails?”
Stassen’s European Parliament colleague Corien Wortmann , a Christian Democrat, also wants an investigation into the matter, says De Telegraaf.
Wortmann figures such an investigation could take several months. During which nothing will happen, except for lost time and money.