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Saab Ventures sells holdings in five spin-off companies to Verdane Capital.

NORDIC BUSINESS REPORT-7 February 2008-Saab Ventures sells holdings in five spin-off companies to Verdane Capital(C)1994-2008 M2 COMMUNICATIONS LTD

Swedish defence and aerospace group Saab AB said on Thursday (7 February) that its investment arm, Saab Ventures, has agreed to sell its shares in five early-stage spin-off companies to Verdane Capital in a SEK46m deal.

The transaction covers Saab Ventures' shares in Efield AB, Minesto AB, MX Composites AB, Saab Vidingsj and WRAP International AB.

The sale will resuilt in a profit of approximately SEK39m.

Saab, headquartered in Linkoping in Sweden, is a high-tech company active within defence, aviation and space. The company has 13,600 employees and annual sales of EUR2.3bn. Saab is listed on the OMX Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 12.66 Swedish kronor (SEK). One British pound (GBP) is worth approximately 1.34 euros (EUR).

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Publication:Nordic Business Report
Date:Feb 7, 2008
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