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Saab said today it has arranged 70 million euros ($95.6 million) in bridge financing with the help of a Chinese guarantee, buying some time as it seeks court protection from creditors.

Parent company Swedish Automobile NV, in a statement, said Saab has signed a technology license agreement with a special purpose vehicle, or SPV, for 70 million euros.

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Chinese Step In And Toss Saab A $95 Million Lifeline

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