UAE’s EDGE to buy Lockheed stake in military maintenance company

Industry: Defense 2020-07-22

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 EDGE has entered into a conditional agreement to buy the stake from Lockheed Martin and its subsidiary Sikorsky, it said in a statement.

The value of the transaction was not disclosed.

Source: Reuters.com

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