Fair trade regulator, Competition Commission (CCI) today approved the proposed joint venture between Indian Reliance Aerostructure and French Dassault Aviation.
The proposed combination relates to the setting up of a joint venture between Reliance Aero and Dassault -- Dassault Reliance Aerospace Limited, in which Reliance Aero would hold 51 per cent shares, with the remaining 49 per cent to be held by Dassault.
CCI said in a tweet Friday that it has approved setting up of this JV. Deals beyond a certain threshold require approval from CCI, which keeps a tab on unfair business practices across sectors.
The JV, which was announced by the two companies in October last year, aims to be a "key player" in execution of offset contract worth about Rs 22,000 crore as part of the multi-billion euro Rafale fighter jet deal between India and France.
The strategic partnership between Dassault and Reliance will also focus on promoting research and development projects under the IDDM programme (Indigenously Designed, Developed and Manufactured), a key initiative of Defence Minister Manohar Parrikar
Reliance Defence and Engineering has considered to joint venture with Kalashnikov Israel for manufacturing Kalashnikov class of weapons for Indian armed forces. Kalashnikov Israel, a subsidiary of the CAA Company of Israel, has agreed to jointly make Kalashnikov and other small arms with Reliance Defence
Indian Reliance Group and Dassault Aviation have announced a joint venture (JV) to execute $3.3 billion worth offset contract as part of the Rafale fighter jet deal
Indias Reliance Infrastructure company will soon sign a contract to build fast patrol vessels for the Indian Coast Guard, its chairman, Anil Ambani disclosed at the companys annual general meeting in Mumbai on Tuesday. "The company's focus areas would be defence and metro systems," Ambani said
Ukroboronproms subsidiary SpetsTehnoEksport and Indian Reliance Defence have signed a memorandum on joint participation in BMP-2 modernization for the Indian Army. Cooperation primarily relates to the manufacture and supply of components and systems for improving BMP mobility, modernization of sighting and fire control systems
Indias Reliance Defense as received 16 new industrial licences for the manufacture of defense equipment that include armored vehicles, electronic warfare systems, missiles and unmanned aerial vehicles. The equipment will be manufactured at Pithampur SEZ in Madhya Pradesh and MIHAN SEZ near Nagpur
Reliance's joint venture with Dassault Aviation is targeting businesses worth Rs 30,000 crore (US$4.5 billion) as part of the offsets for the contract
Reliance Infrastructure (RInfra)-promoted Reliance Aerostructure and Dassault Aviation have formed Joint Venture known as 'Dassault Reliance Aerospace Limited'. Eric Trappier, Chairman of Dassault Aviation France, will be the Chairman, and Anil D Ambani, Chairman of Reliance Group, will be the Co-Chairman of Dassault Reliance Aerospace Limited DRAL
Reliance has signed an agreement with the American Navy for repair and alteration services for warships of the largest forward-deployed Seventh Fleet operating in the Western Pacific and Indian Ocean. The Seventh Fleet has roughly about 5070 ships and submarines, 140 aircraft and about 20,000 sailors under its command, Tribune India reported today
Reliance Defence and Engineering (RDEL) has signed Rs 916 crore contract with Defence Ministry for design and construction of 14 fast patrol vessels for Indian Coast Guard. RDEL emerged winner through a competitive bidding process undertaken by Ministry of Defence with participation from almost all the private sector and public sector shipyards namely, L&T, Cochin Shipyard Ltd, Goa Shipyard Ltd, Garden Reach Shipbuilders & Engineers Ltd (GRSE), the company said in a statement Monday
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