Airbus Group Sells Part of Its Stake in Dassault Aviation
AMSTERDAM — Airbus Group , in an off-market block trade, has sold to Dassault Aviation 810,072 Dassault Aviation shares at a price of €980 (US $1,224) per share, representing a total of about €794 million pre-transaction costs, according to an Airbus Group statement. The French state has agreed to waive its rights under the shareholder agreement with Airbus Group, which provides in particular a right of first offer to its benefit, for this block trade, which represents approximately 8 percent of Dassault Aviation ’s share capital, a…
Airbus and Tata team up to bid for Indian Air Force planes
NEW DELHI: Europe's Airbus and Tata Sons have bid for a multibillion-dollar contract to replace the Indian Air Force's ageing fleet of Avro cargo planes, as New Delhi looks to boost the role of the local private sector in modernizing its armed forces. Under the bid, estimated by analysts to be worth at least $2 billion, Airbus's Defence and Space unit and Tata's Advanced Systems would replace the 56 Avro jets with Airbus's C295 transport planes, the European manufacturer said on Tuesday. Airbus would supply th…
Airbus may partner Tatas for manufacturing defence transport aircraft
NEW DELHI: French aircraft giant Airbus is likely to tie up with the Tatas to manufacture transport planes for the defence sector, sources familiar with the development told TOI. The planned partnership is likely to mark the first big-ticket entry after the Narendra Modi government raised the FDI limit in defence production to 49% from 26% to boost domestic manufacturing and reduce outgo of foreign exchange. The proposed entry of Airbus in partnership with the Tatas puts at rest doubts that were expressed when the sector was opened up. Th…
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