Saab Space sale

Saab has announced that it has sold its shares in Saab Space, including its subsidiary Austrian Aerospace, to the Swiss company RUAG Holding for approximately £29m.

Saab

has announced that it has sold 100 per cent of its shares in Saab Space, including its subsidiary Austrian Aerospace, to the Swiss company

RUAG Holding

.

The purchase price for the shares amounts to SEK335m (£28.7m).

In addition to the fixed purchase price, Saab is entitled to an additional consideration related to the long-term positive performance of Saab Space.

The transaction is estimated to generate a capital gain to Saab during 2008 of approximately SEK100m.