Deals
Saab Wins $4.5 Billion Brazil Order as Spat Hurts Boeing
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Saab AB surged in Stockholm as it beat Boeing Co. to supply 36 jet fighters for Brazil’s air force after President Dilma Rousseff called alleged U.S. spying on her government an affront to the South American nation.
The deal is worth $4.5 billion through 2023, the Defense Ministry said yesterday. Saab rose as much as 44.8 kronor, or 34 percent, to 177.8 kronor in Stockholm, the most since its 1998 initial public offering. Brazil picked Saab over Boeing because of the performance and cost of its aircraft as well as willingness to transfer technology, Defense Minister Celso Amorim said.