Disposal

RNS Number : 1441I

BAE SYSTEMS PLC

05 March 2010

 



BAE Systems - Partial sale of shares in Saab AB

5 March 2010

BAE Systems plc has today agreed the sale of half of its 20.5% shareholding in Saab AB.  The share sale transaction will comprise the conversion of BAE Systems' 1,047,180 Saab 'A' shares to Saab 'B' shares and the subsequent sale of 11,166,173 Saab 'B' shares to Investor AB for a cash consideration of SEK 1,066 million.  If completion occurs after 20 April 2010, the record date for the dividend of SEK 2.25 per share, the price will be reduced by SEK 25 million.

Following completion of the transaction, which is subject to regulatory approval, BAE Systems will retain 11,166,173 Saab 'B' shares.  BAE Systems will hold this residual interest as an investment and intends to dispose of it through a market placing in due course.

Issued by:

BAE Systems plc

London

 

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