GM Generali

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The Swedish government Tuesday said it is ready to discuss providing Saab Automobile AB and its new owner, Swedish boutique supercar maker Koenigsegg Group AB, with state credit guarantees for loans from the European Investment Bank.

The announement was made shortly after General Motors Corp. (GMGMQ) confirmed that it had agreed to sell Saab to Koenigsegg for an undisclosed sum.

"The letter of intent between the parties mean that the National Debt Office can now initiate negotiations with Saab and the new owner about conditions for state credit guarantees for loans in the European Investment Bank," the government said in a statement.

The guarantees would help facilitate EIB loans for projects aimed to develop safe and environmental-friendly cars. Before a decision to provide the guarantees can be made, the EIB needs to approve the framework for the loans and the E.U. commission must approve the terms for the state credit guarantees, it added.

Enterprise and Energy Minister Maud Olofsson said it was good that questions regarding ownership have now been resolved.

"It's a decision that the company's employees, Trollhaettan, the Vaestra Goetaland-region and the government has been waiting for," she said.

Company Web site: http://www.sweden.gov.se

-By Anna Molin; Dow Jones Newswires; +46 8 545 130 91; anna.molin@dowjones.com