The government will sell up to 15 per cent stake in state-run aerospace and defence company Hindustan Aeronautics (HAL) through an offer for sale (OFS), at a floor price of Rs 1,001 per share. The offer could fetch the...
Italy’s Leonardo signs software deal to tackle homeworking cyber threats
Italian defence group Leonardo is expanding its cybersecurity offerings in partnership with a specialist Californian software company, looking to tap into increased security issues raised by the growth of home working...
UAE’s EDGE to buy Lockheed stake in military maintenance company
United Arab Emirates state defence conglomerate EDGE said on Tuesday it was taking full ownership of UAE military repair and maintenance company AMMROC by buying the 40% stake held by Lockheed Martin. Abu Dhabi-based...
BAE Systems completes $275 million airborne tactical radios deal
British defence company BAE Systems said it had completed the acquisition of Raytheon’s airborne tactical radios business, paying $275 million out of existing cash resources to finalise the deal announced in January...
EU clears UTC purchase of Raytheon, subject to conditions
The European Union has cleared United Technologies Corporation’s (UTC) planned acquisition of Raytheon, subject to conditions, the European Commission said on Friday. UTC agreed in June to combine its aerospace business...
United Technologies, Raytheon offer EU concessions over $120 billion merger deal
United Technologies Corp and Raytheon Co have offered concessions to address EU antitrust concerns about their plan to create a $120 billion U.S. aerospace and defense giant, a filing on the European Commission website...
Czech group Omnipol in talks over Aero Vodochody sale: report
Czech defense technology group Omnipol is in talks to buy aircraft manufacturer Aero Vodochody from investment group Penta, Omnipol’s biggest shareholder told the daily Hospodarske Noviny. “We have an agreement with...
Indian Navy trims acquisition list due to Budget cuts
With forced budget cuts hitting hard, the Indian Navy is pulling back on procurement of combat systems, cutting down on the numbers planned to be acquired in some cases and foreclosing other projects that have hit a...
Bharat Forge increases stake in defense tech supplier Aeron Systems
Automotive and defense supplier Bharat Forge on Monday increased its stake in aerospace and defense technology supplier Aeron Systems in its bid to increase its know-how in the defense technology. The Kalyani Group...
With over Rs 9,000 crore debt, Anil Ambani’s Reliance Naval now stares at bankruptcy
Lenders led by IDBI Bank have turned down a resolution plan proposed by Reliance Naval & Engineering, which has not been servicing its more than Rs 9,000 crore of debt for several months now. The lenders will now...
Reliance Aerostructure-Thales joint venture gets CCI nod
Competition Commission has approved the joint venture between Reliance Aerostructure and Thales India, according to sources. Reliance Infrastructure-promoted Reliance Aerostructure would have 51 percent stake in the...
Defence Acquisition Council approves acquisitions worth over Rs 15,000 crore
The Defence Acquisition Council (DAC) chaired by Defence Minister Nirmala Sitharaman today approved capital acquisition proposals of the defence services, valued at Rs 15,935 crore. These included the procurement of...
