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Saab says in final stages of talks to buy ThyssenKrupp shipyard
June 26, 2014 / 8:26 AM / 3 years ago

Saab says in final stages of talks to buy ThyssenKrupp shipyard

STOCKHOLM (Reuters) - Swedish defense firm Saab on Thursday confirmed a media report it was nearing a deal to buy German conglomerate ThyssenKrupp’s submarine shipyard in the south of Sweden.

The Stockholm bourse briefly halted trading in Saab shares on Thursday following a report by business daily Dagens Industri that Saab may soon announce such a deal, with a price tag well below 1 billion crowns ($148.4 million). The paper did not provide sources.

Saab and ThyssenKrupp announced in April they were in talks for ThyssenKrupp to sell the unit to Saab after the German group failed to reach a deal with Sweden for a new generation of submarines.

“The discussions are at a final stage but still ongoing,” Saab said in a statement. “Saab has chosen to clarify the status of these discussions due to information published in the media.”

Saab declined to comment on the price tag. ThyssenKrupp also declined to comment.

Reporting by Sven Nordenstam and Anna Ringstrom, additional reporting by Tom Kaeckenhoff in Dusseldorf; Editing by Alistair Scrutton

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