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. Last Updated: 07/27/2016

Swedish Fighter Deal

STOCKHOLM, Sweden -- Swedish defense group Saab AB, which is 35 percent-owned by British Aerospace, has sealed a deal to sell 28 Jas 39 Gripen jet fighters to South Africa, Swedish radio reported Thursday.

Swedish radio Ekot said negotiations between Saab and South Africa had been completed. This followed last year's decision by South Africa to choose Saab as its top candidate to supply fighters in an order worth 10.9 billion rand ($1.8 billion) and due to be matched by 48 billion rand in industrial investments.

The formal decision will be made by the South African government on Sept. 1, Ekot said.