Reliance Defence inks pact with 3 Ukrainian firms
Source: PTI Reliance Defence has signed strategic partnership agreement with three Ukrainian state- owned companies which will allow them to collaborate on a range of military products including transport aircraft, upgrade of armoured vehicles, maritime gas turbines and unmanned aerial vehicles. The development follows a meeting between Reliance Group Chairman Anil Ambani and Ukrainian President Petro Poroshenko in Ukraine this week. During the hour long meeting, the two leaders discussed issues of strategic interest between the Indian and Ukrainian defence and aerospace industry. "As a follow up of the meeting, a Strategic Partnership Agreement was signed between State Owned Ukroboronprom of Ukraine and Reliance Defence, which will allow it to collaborate with Antonov for its range of military and ...
Reliance Defence partners Russian firm to develop air missile systems
The Dollar Business Bureau Reliance and AlmazAntey discussed the joint implementation of modernisation, repair and deep overhauls of ‘AlmazAntey’ systems already in service with the Indian armed forces Reliance Defence Ltd. and AlmazAntey - Russia’s leading developer and manufacturer of air defence missile systems - have agreed to develop the entire range of AD missile and radar systems required for Indian defence forces. “DAC approval for acquisition of S-400 air defence missile systems creates business opportunity of about $6 billion (Rs 40,000 crore),” Reliance Ltd. said in a statement. The two companies identified the air defence missile systems including the TOR-1M missile program, radars and automated control systems as areas of partnership under the ‘Make in India’ programme as well ...
Nippon invests $348 million in Reliance, increases stake to 49%
The Dollar Business Bureau Nippon Life Insurance (NLI), a Japan-based Fortune 500 company, on Tuesday said that it will increase its stake in its Indian joint venture with Reliance Life Insurance (RLIC) from the existing 26% to 49% Nippon Life Insurance (NLI), a Japan-based Fortune 500 company, on Tuesday said that it will increase its stake in its Indian joint venture with Reliance Life Insurance (RLIC) from the existing 26% to 49%. The Japanese insurance giant will invest $348 million (Rs.2,265 crore) to acquire additional 23% in Reliance Life Insurance. With the latest transaction, Reliance Life Insurance’s total market valuation climbs up to $1.5 billion (Rs.10,000 crore), the highest for any life insurance company in India. “Nippon Life Insurance’s investment also ...
Nippon to invest $184 mn to increase stake in Reliance Capital
The Dollar Business Bureau Reliance Capital Ltd. on Tuesday announced that it has signed an agreement with Nippon Life Insurance (NLI), a Japan-based Fortune 500 company, to increase the latter’s stake from 35% to 49% in Reliance Capital Asset Management (RCAM). As part of the agreement, the Japanese insurance major will invest Rs.1,196 crore ($184 million) in trenches to acquire an additional 14% stake in Reliance Capital. “The transaction pegs Reliance Capital Asset Management’s valuation at Rs.8,542 crore ($1.3 billion), the highest valuation till date for any asset management company in the country,” Reliance Capital Ltd. said in a statement. “Both Reliance Capital and Nippon Life Insurance have enjoyed an extraordinary relationship in the last few years and we see this mutual respect and ...
