Saab has exercised its option to sell its 25% holding in HDW.
Saab has exercised its option to sell its 25% holding in HDW. Saab has exercised its option to sell its 25% holding in the German shipyard Howaldswerke Deutsche Werft, HDW. This is in line with Saab's expressed strategy of refining and developing its operations. In 1999, prior to Saab's acquisition of Celsius, Celsius entered into an agreement to sell Kockums to HDW and at the same time receive 25% of the shares in HDW, with an option to sell this share after 1 January 2001 to Preussag AG or Babcock Borsig at a fixed price of DEM 355 million. Preussag AG and Babcock Borsig AG have agreed to Celsius' sale of 20% to a financial investor. Preussag AG has taken the remaining 5% of the shares in HDW. Saab is one of the world's leading high-technology companies, with its main operations focusing on defence, aviation and space. The Group covers a broad spectrum of competence and capability in systems integration. For further information, please contact: Anders Stålhammar, Press Secretary, Saab AB Phone: +46 13 187175 +46 8 4630175 +46 70 8897096 www.saab.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/12/03/20011203BIT00430/bit0002.doc http://www.waymaker.net/bitonline/2001/12/03/20011203BIT00430/bit0002.pdf