BAE to Sell 50% of its Saab Stake

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Sun, 07 March 2010 11:57

BAE Systems announced that it is ridding itself of half of its 20 percent ownership in Saab AB, according to a March 5 statement from the British defense giant.
The company intends to sell 1,047,180 of its A shares in the Swedish aerospace group and 11,166,173 of its B shares to "Investor AB for a cash consideration of" 1.066 billion Swedish kroner ($149.6 million), according to the announcement.
Following the sale, BAE will retain 11,166,173 B shares.

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