STOCKHOLM (Dow Jones)--The EU Commission has approved the terms of the Swedish government's state guarantees for the European Investment Bank's loan to car maker Volvo PV, owned by China's Geely Automobile Holding Ltd. (0175.HK), said the Swedish government Thursday.
The European Investment Bank, or EIB, loans are conditional on the Swedish state guaranteeing the entire loan sum in return for collateral provided by Volvo.
The next stage of the loan process is negotiation between the Swedish National Debt Office and Volvo regarding the terms of the loan guarantees, in addition to the Swedish government's approval.
-By Jens Hansegard, Dow Jones Newswires; +46-8-5451-3095; jens.hansegard@dowjones.com
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(END) Dow Jones Newswires
December 16, 2010 07:11 ET (12:11 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 07 11 AM EST 12-16-10
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