Israel’s Rafael Advanced Defense Systems is unhappy with its venture with India’s Bharat Electronics Ltd to make missile seekers.
The company wants more than the 26 percent ownership in the joint company but Indian laws forbid foreign direct investment in Defense to 26 percent. It is not comfortable with the fact that BEL holds the remaining 74 percent.
Thus a solution put forward is to have a third company own a 24 percent stake in the venture.
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