Reliance Group to hold majority stake in JV with Dassault

Mumbai, Feb 6 (IANS) After getting an approval from Competition Commission of India (CCI), industrialist Anil Ambani-led Reliance Group on Monday revealed the contours of the joint venture with Dassault Aviation of France, including the financial details.

“The joint venture is proposed to be named as ‘Dassault Reliance Aerospace Ltd’. Reliance Aerostructure Ltd will have 51 per cent shareholding in the joint venture, while Dassault Aviation will hold 49 per cent,” the company said in a statement

The joint venture is being touted as one of the largest offsets deals in the country’s defence space, potentially valued at some Rs 30,000 crore ($4.5 billion). The joint venture will also be the main executor of the offets associated with India’s purchase of 36 Rafale fighter jets.