Defence and security company Saab intends to utilize its option to divest its shares in Aker Holding AS, which were acquired in 2007. The divestment will be carried out on June 30th 2011 the latest.
On June 22, 2007, Saab announced that the company had decided to acquire shares (7.5 per cent) in the newly created holding company Aker Holding AS. The agreement included an option with the possibility to divest the shares during 2011, which Saab now utilizes.
Saab’s investment amounted to MNOK 1,205, where of MNOK 230 was paid through own capital and the remaining part through a loan agreement. The exercise of the put option will generate cash of approximately MNOK 350 to Saab and have a positive impact on the operating cash flow and net liquidity by approximately MNOK 120. The transaction will have no impact on the results.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adapts and improves new technology to meet customers’ changing needs.
For further information, please contact:
Saab's press centre, +46 (0)734 180 018, presscentre@saabgroup.com
Saab's Investor Relations, Ann-Sofi Jönsson, +46 (0)734 18 72 14
The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on May 16 at 17.31.
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http://www.cisionwire.com/saab/r/saab-utilizes-option-in-aker-holding-as,c9123362
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