Sunday, June 27, 2010

BAE Systems sells 10pc stake in Saab

Published: 6:42PM GMT 05 March 2010

Gripen Jet - BAE Systems sells 10pc interest in Saab BAE paid for 35pc of Saab in 1998, when the dual companies had a corner try offered Gripen jets Photo: AP

The sale is piece of an ongoing ordering of the holding that proposed in 2005. BAE"s target is to sell off the complete stake.

BAE is offered the shares to Investor, the holding association of Sweden"s Wallenberg family. Investor will afterwards own 30pc of Saab, that creates Gripen warrior aircraft.

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The Wallenbergs additionally hold stakes in Ericsson and the Swedish bank SEB.

BAE paid for 35pc of Saab in 1998, when the dual companies had a corner try offered Gripen jets.

Saab is a apart association from the Saab car code sole by General Motors to Spyker progressing this year.