Israel's Elbit Systems Takes 44% Stake In Adani Defence Arm Atharva Advanced Systems

Adani Defence, and Elbit Systems had signed an agreement on November 20 for the Israeli firm to take the 44 per cent stake in Atharva Advanced Systems

Israel's defence and homeland security company Elbit Systems Ltd has taken a 44 per cent stake in Atharva Advanced Systems and Technologies Ltd, an arm of Adani Defence Systems and Technologies Ltd, the Indian conglomerate said in a regulatory filing.

Adani Defence, and Elbit Systems had signed an agreement on November 20 for the Israeli firm to take the 44 per cent stake in Atharva Advanced Systems.

Adani Defence now holds 56 per cent stake in its arm Atharva Advanced Systems, which was incorporation on August 9 this year.