Finnish defense firm in Egypt bribery case

Daily News Egypt
1 Min Read

Finland is to bring bribery and accounting fraud charges against a unit of state-controlled defense group Patria linked to an arms deal in Egypt.

The Office of the Prosecutor General said in a statement that four people working at Patria Vammas Oy and one Egyptian citizen were involved, beginning with a howitzer deal struck in 1999 and running until 2007.

"There are probable causes to suspect that … the Finnish firm’s representatives have promised and given significant bribes to Egyptian officials," the Office said in a statement, adding it would seek a fine from the company.

Patria said it would fight the charges.

"We consider (them) groundless," Patria’s general counsel Olli Happonen said.

Finland owns 73.2 percent of Patria, while European aerospace and defence group EADS has a stake of 26.8 percent.

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