Reliance Defence Systems Acquires Saab Stake In Pipavav
Defence and security company Saab has sold its stake (approximately 3.3 per cent), in India’s Pipavav Defence and Offshore Engineering Company Limited (Pipavav). The buyer is India’s Reliance Defence Systems Private Limited, which has made a tender offer on outstanding shares in Pipavav. The transaction will positively affect Saab’s net financial income and cash flow positively.On 1 November 2012 Saab announced that it had made an investment in Pipavav. This made a new partnership possible and made sure a good base for future businesses is in place. With a new strong owner in the company