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...
Reliance Defence to partner Rafael for joint venture
Reliance Defence Ltd, a 100 per cent subsidiary of Reliance Infrastructure Ltd, and Rafael Advanced Defence Systems Ltd have decided to set up a joint venture (JV) company in India in the areas of air-to-air missiles...
R-Infra announces takeover of Pipavav Defence
Reliance Infrastructure (R-Infra) on Monday announced the takeover of the management and control of Pipavav Defence & Offshore Engineering Co (PDOC). It would hold 36.5 per cent of the equity capital of PDOC. Anil...
