Saab Sells Shares in Spin-offs

Stockholm, Sweden-based automaker divests in five non-core businesses.

Saab is selling part of its shares in five early stage spin-off companies; Efield AB, Minesto AB, MX Composites AB, Saab Vidingsjo and WRAP International AB to Verdane Capital for approximately $7 million dollars.

The sale is a part of a two-part investment operations strategy on the part of Saab Ventures. The first part is investments in external small and fast moving entrepreneurial companies that have the potential to become a future core business and the second part is spin off of companies based on developing technologies, but with markets outside of Saab's core business. Saab Ventures has spun off 12 companies during the last 7 years and invested in 4 external companies during the last 18 months.

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