BAE dropping out of Saab Gripen programme...

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BAE Systems to drop Saab tie-up

BAE Systems has sold half its stake in Swedish defence company Saab.

Gary Parsons - 8-Mar-2010

Saab's Gripen has been sold by a joint BAE/Saab initiative since 1995. Saab imageMarch 8: UK defence contractor BAE Systems has sold half its stake in Swedish defence company Saab AB, reports the Associated Press.

The sale of the shares on March 5 raised €108 million and is likely to see the end of BAE’s sales initiative for the Gripen , which has often been pitched against the Eurofighter Typhoon overseas.