* ThyssenKrupp to sell shipyard for 340 mln Swedish crowns
* Deal subject to approval by Swedish antitrust authority
* Saab says deal will boost its status as military supplier
BERLIN/FRANKFURT, June 29 Germany's ThyssenKrupp
said late on Sunday it had agreed to sell its
submarine shipyard in the south of Sweden to Swedish defence
firm Saab for 340 million Swedish crowns ($50.48
Saab had confirmed on Thursday it was nearing an agreement
after business daily Dagens Industri reported that it might soon
announce such a deal, with a price tag well below 1 billion
Saab and ThyssenKrupp announced in April they were in talks
on the sale of the unit after the German group failed to reach a
deal with Sweden for a new generation of submarines.
"The acquisition is in line with Saab's ambitions to
increase its capacity within the marine area and strengthen the
company's position as a full supplier of military systems," Saab
said in a statement.
The transaction is not expected to have a significant impact
on 2014 results, the Swedish company added, noting that
ThyssenKrupp Marine Systems will be integrated within Saab's
Security and Defence Solutions division.
Sweden had been seeking ways to share development costs with
other potential buyers of its A-26 submarine but failed to agree
on commercial terms with ThyssenKrupp, which also builds
submarines in a separate business in Germany.
Sweden's government asked Saab earlier this year to come up
with a strategy to support Swedish submarine naval forces.
Defence analysts saw the move as opening the door for the
Swedish company to build submarines instead.
ThyssenKrupp Marine employs around 1,000 staff in Sweden,
mainly in the southern Swedish cities of Malmo and Karlskrona.
The Marine Systems unit, which also makes naval ships, posted
sales of 1.33 billion euros last year.
($1 = 6.7357 Swedish Kronas)
(Reporting by Maria Sheahan; Additional reporting by Andreas
Cremer and Mia Shanley; Editing by Paul Simao)