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Wallenbergs buy into Norwegian company

TT/The Local
TT/The Local - [email protected]
Wallenbergs buy into Norwegian company

Swedish aerospace and defence company Saab has bought a large shareholding in Norwegian company Aker Holding, which is the largest owner of Norwegian industrial company Aker Kvaerner.

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Saab, controlled by Sweden's powerful Wallenberg family, is investing around 1.4 billion kronor in the holding company, giving it a 7.5 percent share. The Wallenberg's holding company, Investor is buying a further 2.5 percent of Aker Holding.

Aker Kvaerner provides technological and construction services to the oil and gas industry. Saab said in a statement on Friday that the deal depends on the approval of the Norwegian Parliament, likely to take place in the autumn.

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