Patria Group's earnings for the financial year 2016 measured up to expectations. Net sales grew and profitability was at a good level. During the financial period, the competition authorities approved a share transaction in which the State of Finland sold 49.9 percent of Patria Oyj to Kongsberg Defence & Aerospace AS. The total value of the transaction is EUR 283.5 million. The State of Finland now owns 50.1 percent of Patria Oyj. In this connection, an extraordinary shareholders' meeting appointed a new Board of Directors for Patria Oyj, which named Olli Isotalo, M. Sc. (Eng.), the new CEO.