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U.K. MoD Completes Sales of QinetiQ Shares

DDN

Wednesday, September 10th, 2008

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Britain's Ministry of Defence (MoD) yesterday said that it has completed the sale of its shares in QinetiQ, the privatized former in-house laboratories of the MoD. The MoD's remaining stake in QinetiQ was nearly 19 percent of the outstanding share capital, which was sold to investors for $454.8 million. "The QinetiQ board welcomes the announcement, which it believes will broaden the shareholder base of the company," Sir John Chisholm, QinetiQ's non-executive chairman, said in a statement yesterday. "Our commercial relationship…

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