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BAE | Britain/U.K. | Europe - Other | Fighters & Attack | Mergers & Acquisitions | Other Corporation | Partnerships & Consortia

BAE Systems Selling Stake in Sweden’s Saab

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In 1998, with a global sales partnership in place for Saab’s JAS-39 Gripen fighter, BAE bought a 35% stake in Saab for 3.5 billion Swedish kronor. In March 2010, a month after BAE Systems settled bribery cases with the US and Britain over weapons sales that included Gripen fighters, Britain is divesting just over half of its remaining stake in the Swedish defense firm, for SEK 1.07 billion (about $150 million). Saab’s best-known product is its JAS-39 Gripen lightweight fighter, but the firm offers a diverse array of defense products that include radars, missiles, UUVs, and more. BAE had already reduced its stake in Saab to 20.5% in 2005, and was not involved in recent efforts to sell the Gripen to Switzerland and Brazil. The firm reportedly intends to dispose of all Saab holdings… JAS-39D putsthe brakes on(click to view full) March 5/10: The 11.2 million Class B shares are sold to Investor AB, the Wallenberg family’s publicly traded holding company, at SEK 95.50 per share. The 10.2% share is half of BAE’s remaining 20.5% stake in Saab. Following the sale, and some conversions of some Investors AB and all BAE stakes from Class A to Class B shares, Investor […]

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