(Reuters) -Reliance Infrastructure said its unit would sell a 2% stake in its Indian joint venture to its partner, Dassault Aviation, making the French fighter plane maker a majority owner of the firm
Dassault Aviation Acquires 2% Stake for Majority Control in JV with Reliance
Dassault Aviation's Strategic Investment
(Reuters) -Reliance Infrastructure said its unit would sell a 2% stake in its Indian joint venture to its partner, Dassault Aviation, making the French fighter plane maker a majority owner of the firm with a 51% stake.
Financial Details of the Deal
The deal will fetch the Anil Ambani group company - which will hold a 49% stake - 1.76 billion rupees (nearly $20 million) and is expected to be closed by November 1, Reliance Infrastructure said in an exchange filing on Friday.
Current Operations of Dassault Reliance Aviation
Dassault Reliance Aviation currently makes parts for the Rafale fighter aircraft used by India's air force, as well as some components for Dassault's Falcon 2000 business jets.
($1 = 88.2516 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)
