S.Africa bank seizes Saab cars as loan security

Newswire

JOHANNESBURG, Oct 23 (Reuters) - South African commercial bank Absa said on Thursday it had seized dozens of Saab automobiles as security for finance provided to the car maker's local distributor, Absolut Motor Holdings. Absa media manager Errol Smith told Reuters that the local company, which has seen Saab sales fall sharply this year, was not being liquidated but was in talks with Saab in Sweden to find a solution to its problems. "We have taken a number of Saab vehicles into ...

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