Brief: Saab To Divest Laser Rangefinder Business

Lumibird SA

01/06/2022 06:33

June 1 (Reuters) - Saab AB  SAABb.ST :
    * SAID ON TUESDAY, SAAB AND LUMIBIRD SA COMPLETED
TRANSACTION
WHEREBY LUMIBIRD, THROUGH A SWEDISH SUBSIDIARY BASED IN
GOTHENBURG, IS ACQUIRING SAAB’S LASER RANGEFINDER BUSINESS
    * TRANSACTION, WHICH WAS SIGNED IN MARCH 2021, WAS SUBJECT
TO A
NUMBER OF CONDITIONS, ALL OF WHICH NOW HAVE BEEN FULFILLED
    * 27 SAAB EMPLOYEES IN GOTHENBURG WILL BE AFFECTED AND JOIN
THE
NEWLY ESTABLISHED SUBSIDIARY LUMIBIRD PHOTONICS SWEDEN AB
    * DIVESTED OPERATIONS HAD REVENUES OF AROUND EUR 10 MILLION
IN
2021

 Further company coverage: [ SAABb.ST ] 

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