Summary
The U.S. Department of Justice (DoJ) has issued a subpoena to Saab North America, Inc., seeking information regarding Brazil’s acquisition of 36 Gripen E/F fighter jets in 2014. This request is part of a broader investigation into the procurement process, which has previously been scrutinized by both Brazilian and Swedish authorities.
The Gripen fighter jet deal, valued at approximately $5.4 billion, was awarded to Saab as part of Brazil’s FX-2 program, which took place between 2008 and 2014. While both Brazilian and Swedish investigations concluded without finding wrongdoing by Saab, the DoJ’s inquiry appears to be linked to allegations of corruption surrounding the procurement process, particularly involving former Brazilian President Luiz Inacio Lula da Silva. Lula has faced accusations of using his political influence to secure the deal for Saab, which his legal team has characterized as politically motivated. Saab has stated its intention to cooperate fully with the DoJ’s request for information while maintaining that it is constrained by confidentiality obligations regarding further details.
Background of the Gripen Acquisition
- Procurement Timeline: The FX-2 program spanned from 2008 to 2014, culminating in the selection of the Gripen fighter jets over competitors like Boeing’s F-18 Super Hornet and France’s Rafale.
- Delivery Schedule: The first Gripen jets have already been delivered, with the remainder expected by 2027.
- Political Context: The investigation into the procurement process has significant political implications, particularly for Lula, who is currently serving as Brazil’s president.
Saab’s Position
Saab has expressed its commitment to complying with the DoJ’s request and cooperating with the investigation, reiterating that prior inquiries by Brazilian and Swedish authorities did not indicate any misconduct on its part. The company is also facing market reactions, as shares fell by 6.38% following the announcement of the subpoena.
US requests information from Saab North America on Brazil fighter jet purchase
Oct. 10 / Gazette / Highlights the DOJ's subpoena to Saab North America while providing context on Brazil’s Gripen acquisition. The focus on Lula's political implications adds depth, though it lacks broader analysis of market reactions. “ COPENHAGEN (Reuters) -The U.S. Department of Justice has requested information from a subsidiary of Saab over Brazil's purchase of the Swedish firm's Gripen...
Oct. 10 / Benzinga / Offers a concise overview of the DOJ's request, emphasizing Saab's compliance and previous investigations. The mention of Saab's corporate profile adds authority, but it lacks critical engagement with the ongoing implications. “ STOCKHOLM , Oct. 10, 2024 /PRNewswire/ -- Saab North America , Inc., a U.S. subsidiary of Saab, has received a subpoena from the U.S. Department of Justice...