Kongsberg €272 million acquisition of 49.9% stake in Patria

Overview:

• Kongsberg acquired 49.9% shares in Patria for €272 million from the State of Finland.
• Patria is a Finnish defence, security and aviation life-cycle support services and technology solution supplier and owns 50% of the shares in Nammo, a Norwegian ammunition manufacturer.
• The transaction involved a customised shareholder's agreement for the joint venture with the State of Finland.
• The combined revenues from the new partnership will amount to NKr13.4 billion ($1.6 billion).

Wai Yee Tsang - Journalist