In a tweet today, the Competition Commission of India (CCI) said it has approved the formation of joint venture between Reliance Aerostructure Ltd and Thales India Pvt Ltd
NEW DELHI: Fair trade regulator CCI has given its nod to the formation of joint venture between Reliance Aerostructure and Thales India.
Reliance Infrastructure-promoted Reliance Aerostructure would have 51 per cent stake in the entity.
The joint venture would be known as 'Thales Reliance Defence Systems'.
In a tweet today, the Competition Commission of India (CCI) said it has approved the formation of joint venture between Reliance Aerostructure Ltd and Thales India Pvt Ltd.
Deals beyond a certain threshold require the fair trade regulator's clearance.
The proposal to set up the joint venture was announced in June 2017.