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Saab, ThyssenKrupp still negotiating shipyard acquisition

Talks between Saab and ThyssenKrupp Industrial Solutions over the sale of a Swedish shipyard are continuing, Saab says.
By Richard Tomkins   |   June 26, 2014 at 5:13 PM

LINKOPING, Sweden, June 26 (UPI) -- Talks between Saab and Talks between Saab and ThyssenKrupp Industrial Solutions over the sale of a Swedish shipyard are in a final stage and continuing.

Saab said it was making the announcement about the acquisition of ThyssenKrupp Marine Systems, formerly named Kockums) because of media reports it did not elaborate upon.

"Further information will be announced when negotiations have ended and an agreement is signed," it said on Thursday.

The two companies in April announced a non-binding memorandum of understanding on the sale of the shipyard.

"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." Saab had said. "An acquisition of ThyssenKrupp Marine Systems AB will enable Saab to meet this ambition.

The takeover is subject to regulatory approvals.

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