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

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

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