Saab Invests In Pipavav Offshore And Defence

Swedish defence company Saab, which had announced an investment of 250 million Swedish Kroner (Rs 209 crore) in the listed Indian company Pipavav Offshore and Defence Engineering, has acquired 3.33 per cent stake in the company following the investment.

In August 2012, the defence and security company Saab had announced that a memorandum of understanding had been signed with the Indian shipbuilder concerning a strategic investment.

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