Sweden: Saab Eyes Purchase of ThyssenKrupp Marine Systems AB

ThyssenKrupp Industrial Solutions AG, a subsidiary of ThyssenKrupp AG, and Saab AB today signed a non-binding Memorandum of Understanding concerning the sale of the Swedish shipyard ThyssenKrupp Marine Systems AB (formerly named Kockums) with operations in Malmö, Karlskrona and Muskö to Saab AB.

Both parties agree that during the negotiations phase, the integrity and the operating ability of ThyssenKrupp Marine Systems AB must be safeguarded. The transaction will be subject to regulatory approval. The negotiations between Saab AB and ThyssenKrupp Marine Systems AB are at an early stage and more information will follow.

The Memorandum of Understanding is in line with Saab’s ambition to expand its activities in the naval area and meets the needs of Sweden for an industrial solution regarding design, production and maintenance of submarines and warships. An acquisition of ThyssenKrupp Marine Systems AB will enable Saab to meet this ambition.

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Press Release, April 14, 2014; Image: SAAB