The Swedish government said on Friday it is prepared to pay off the loans owed by Saab owner Swedish Automobile to European investment banks, reports Swedish business paper Dagens Industri.

In return the government wants Swedish Automobile, formerly known as Spyker, to be sold to a Chinese buyer as quickly as possible.
The car company signed an agreement in September with Chinese car company Youngman for the licensing of technology, but Youngman says Saab has not yet fulfilled all the conditions of the agreement, reports the Financieele Dagblad.