Reliance Infrastructure acquires Pipavav Defence
Anil Ambani-led Reliance Infrastructure has acquired Pipavav Defence and Offshore Engineering in an all-cash deal.
The acquisition will be done by Reliance Infrastructure, along with its wholly owned subsidiary Reliance Defence Systems Pvt Ltd.
As part of deal
Reliance Infra with this acquisition has joined a growing list of Indian companies entering the defence sector in a big way. Pipavav Defence has an order book of Rs 12,000 crore and has technology tie-ups with global defence companies.
Its global defence technology tie-ups include Sembcorp Marine of Singapore, Sweden’s SAAB, France’s DCNS, Singapore’s Sembcorp Marine and JSC Zvyozdochka and Rosoboron Export of Russia.
Pipavav Defence also has one of the world’s largest Greenfield infrastructure facilities in Gujarat spread across 841 acres, with 210 acres of fully developed water-front land and 250 acres developed for shipbuilding.
India and Spain sign agreement on Mutual Protection of Classified Information
India and Spain have signed an agreement on Mutual Protection of Classified Information. This agreement provides the framework for enhanced cooperation in the defence sector between both countries.
Mutual Protection of Classified Information is a primary pact that a country agrees to before embarking on deeper talks on defence cooperation.
The agreement was signed by visiting Spanish Defence Minister Pedro Moremes and his Indian counterpart Manohar Parrikar. Spanish delegation has evinced a clean interest in participating in the Make-in-India initiative especially in the defence sector of Indian government.
Spanish companies are interested to become part in India’s P75I project under six conventional submarines will be built. Apart from this agreement, both countries also have agreed to work on enhancing bilateral defence cooperation.
Airtel and China Mobile inks MoU for evolving technologies and equipment procurement
Indian telecom giant Bharti Airtel and world’s largest telecom operator China Mobile have signed a partnership memorandum of understanding (MoU) to work jointly on evolving high technologies like 4G, 5G and procuring telecom devices and equipment.
The MoU was signed by China Mobile Chairman Xi Guohua and Bharti Airtel founder and Chairman Sunil Bharti Mittal.
Key highlights of MoU
Some facts
Anil Ambani-led Reliance Infrastructure has acquired Pipavav Defence and Offshore Engineering in an all-cash deal.
The acquisition will be done by Reliance Infrastructure, along with its wholly owned subsidiary Reliance Defence Systems Pvt Ltd.
As part of deal
- Reliance Infra will first invest Rs 819 crore to acquire 17.66 per cent stake from the promoters and subsequently an additional 26 per cent stake at Rs 1,266 crore.
- While, Anil Ambani will take over as chairman of Pipavav Defence with full management control.
Reliance Infra with this acquisition has joined a growing list of Indian companies entering the defence sector in a big way. Pipavav Defence has an order book of Rs 12,000 crore and has technology tie-ups with global defence companies.
Its global defence technology tie-ups include Sembcorp Marine of Singapore, Sweden’s SAAB, France’s DCNS, Singapore’s Sembcorp Marine and JSC Zvyozdochka and Rosoboron Export of Russia.
Pipavav Defence also has one of the world’s largest Greenfield infrastructure facilities in Gujarat spread across 841 acres, with 210 acres of fully developed water-front land and 250 acres developed for shipbuilding.
India and Spain sign agreement on Mutual Protection of Classified Information
India and Spain have signed an agreement on Mutual Protection of Classified Information. This agreement provides the framework for enhanced cooperation in the defence sector between both countries.
Mutual Protection of Classified Information is a primary pact that a country agrees to before embarking on deeper talks on defence cooperation.
The agreement was signed by visiting Spanish Defence Minister Pedro Moremes and his Indian counterpart Manohar Parrikar. Spanish delegation has evinced a clean interest in participating in the Make-in-India initiative especially in the defence sector of Indian government.
Spanish companies are interested to become part in India’s P75I project under six conventional submarines will be built. Apart from this agreement, both countries also have agreed to work on enhancing bilateral defence cooperation.
Airtel and China Mobile inks MoU for evolving technologies and equipment procurement
Indian telecom giant Bharti Airtel and world’s largest telecom operator China Mobile have signed a partnership memorandum of understanding (MoU) to work jointly on evolving high technologies like 4G, 5G and procuring telecom devices and equipment.
The MoU was signed by China Mobile Chairman Xi Guohua and Bharti Airtel founder and Chairman Sunil Bharti Mittal.
Key highlights of MoU
- Both telecom giants will work together TD-LTE (Time division-Long-term evolution) technology.
- They will cooperate on products development and standards, promoting growth in a robust ecosystem to accelerate the commercialization of TD-LTE and evolving technologies like 4.5G/5G.
- Both companies will also work towards shaping up a joint strategy for procurement of devices that include Wifi devices, smart phones, data cards, LTE Consumer Premise Equipments (CPE’s) and Universal SIM (USIM).
Some facts
- Airtel operates across 20 countries in Asia and Africa and has customer base of 312 million subscribers as of December 2014 and revenue of 8 billion pounds.
- It is also ranked amongst the top 4 mobile service providers globally in terms of subscribers.
- China Mobile is the world largest telecom operator both in terms of revenue and customer base.
- It has customer base of 790 million subscribers and revenue of 66 billion pounds.
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