Bloomberg News

Saab AB Finds Previously Unknown South Africa Payments, SvD Says

June 17, 2011

June 17 (Bloomberg) -- Saab AB, the maker of the Gripen fighter jet, has discovered previously unknown payments of 24 million rand ($3.5 million) in 2003 from its subsidiary Sanip Pty Ltd to a South African consultant, Svenska Dagbladet reported today, citing Saab Chief Executive Officer Haakan Buskhe.

The funds had been transferred to Sanip from Saab’s then partner, BAE Systems Plc, Buskhe was quoted as saying.

South Africa signed a contract for 26 Gripen fighters in 1999 as part of its Strategic Defence Procurement, Svenska Dagbladet said.

To contact the editor responsible for this story: Kim McLaughlin at kmclaughlin6@bloomberg.net


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