STOCKHOLM: Swedish defence and aeronautics group Saab said yesterday it was heading towards the acquisition of a submarine shipyard in Sweden owned by German ThyssenKrupp.
Saab, which announced in April it had a memorandum of understanding on buying the subsidiary ThyssenKrupp Marine Systems, said in a statement that “the discussions are at a final stage but still ongoing”.
The financial details of a possible deal were not disclosed by the group.
The subsidiary, formerly known as Kockums, operates in the southern Swedish ports of Malmoe, Karlskrona and Muskoe and has about 1,000 employees.
Saab’s shares were down by 0.24 percent on the Stockholm stock market in morning trading. The overall market was down 0.30 percent. AFP
