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Mahindra And Mahindra Ltd To Buy 26% Stake In Defence JV with BAE Systems plc-Business Standard

Saturday, 9 Feb 2013 11:04am EST 

Business Standard reported that Mahindra And Mahindra Ltd said it will acquire 26% stake in its defence joint venture (JV) with BAE Systems plc, ending their three-year partnership. In a joint statement, they said they have decided to end their partnership in the Indian defence sector with M&M set to acquire a 26% stake of its partner in the joint venture company Defence Land Systems India (DLSI). The joint venture company had plans of supplying artillery howitzers and anti-mine vehicles to the armed forces. 

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