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BRIEF - Mahindra, BAE set up land systems jv in India

Mon Nov 30, 2009 3:28pm IST
 
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LONDON (Reuters) - BAE Systems:

* Mahindra and BAE Systems sign joint venture agreement

* To create a land systems focused jv defence company based in India.

* BAE Systems will have a 26% shareholding in the Joint Venture and Mahindra will have a 74% shareholding

* Parties have agreed to contribute $21.25million

* BAE Systems investing $5.83 million in cash and Mahindra contributing the balance

(For more news on Reuters Money visit www.reutersmoney.in)

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