M&M signs JV with BAE Systems for defence
2009 November 30
M&M signs JV with BAE Systems for defence; M&M and BAE Systems to invest $ 21.25 Mn
Mahindra & Mahindra and BAE Systems have signed an agreement to create a land systems focused, joint venture defence company, based in India. Approved by the Foreign Investment Promotion Board of the Government of India earlier this year, the parent companies’ initial investment will be $ 21.25 million over a 3 year period. The company’s equity split will be 74% Mahindra and 26% BAE Systems, in accordance with the current defence sector Foreign Direct Investment regulations of the GoI.
No related posts.
Subscribe to Stock Market Today