French defence major Dassault Aviation will invest Rs 176 crore to pick a majority stake in Dassault Reliance Aerospace Ltd., a joint venture with Anil Ambani's Reliance Group.
The company signed an agreement with Reliance Aerostructure Ltd. to acquire 2% equity shares in Dassault Reliance Aerospace Ltd., a joint venture company between Dassault Aviation and Reliance Infrastructure Ltd., as per a stock exchange filing.
Upon completion of the transaction, DRAL will cease to be a 51% subsidiary of Reliance Infra and become an associate company with 49% shareholding.
The deal is due to be completed by Nov. 1.
Dassault Aviation is the integrator of the Rafale and Falcon aircraft, as well as the manufacturer of airframes and subsystems of these aircraft.
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