Saab acquires the outstanding shares in Saab Grintek

Saab acquires the outstanding shares in Saab Grintek

Following the transaction where Saab AB acquires the outstanding shares in Saab
Grintek (Pty) Ltd for SEK 240 million (ZAR 250 million) from Kunene Finance
Company (Pty) Ltd, Saab becomes the 100% owner to Saab Grintek (Pty) Ltd.

“This transaction will allow for further cooperation between the defence related
operations in South Africa and the business units within Saab in other
locations, says Kenth-Åke Jönsson, Executive Vice President in Saab. 

“Although we intend to integrate the defence business, Saab has initiated
discussions with potential Black Economic Empowerment (BEE) partners in order to
accommodate the requirements from our customers and partners in South Africa”,
Kenth-Åke Jönsson further stresses.

“We have been involved in developing the Grintek business for many years. It is
our belief that the defence businesses will benefit from further integration
with Saab. We will continue our cooperation with Saab for other business
opportunities in South Africa” says Zoli Kunene, Chairman of Kunene Finance
Company (Pty) Ltd.

Saab serves the global market with world-leading products, services and
solutions ranging from military defence to civil security. Saab has operations
and employees on all continents and constantly develops, adopts and improves new
technology to meet customers' changing needs.


For further information, please contact:
Per Erlandsson, Chief Executive Officer Saab South Africa
Tel: +27 12 672 8333, Cell: +27 82 782 4491

Kenth-Åke Jönsson, Executive Vice President and Business Group Chairman
Tel: +46 (0)8 463 01 31 
+46 (0)705 87 89 78

www.saabgroup.com