New Delhi: The Children's Investment Fund, an aggressive London-headquartered hedge fund best known in India for its high-profile litigation against portfolio company Coal India, has urged global defense major EADS to sell its 46% shareholding in France's Dassault Aviation.
India is currently holding exclusive commercial negotiations with Dassault for its $11 billion MMRCA contract to supply 126 Rafale fighter jets for the Indian Air Force. It's unclear if a potential change in the company's shareholding will impact ongoing negotiations. TCI owns about 1% of the stock of EADS, which reported $65 billion in revenues in 2011.
The hedge fund's move adds to the woes of Dassault Aviation, whose survival is widely believed to be dependent on clinching the Indian order. Last week, France cut down Rafale orders for its own Air Force from 11 a year to just 26 over six years, halving the original contract.
06/08/13 Economic Times
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India is currently holding exclusive commercial negotiations with Dassault for its $11 billion MMRCA contract to supply 126 Rafale fighter jets for the Indian Air Force. It's unclear if a potential change in the company's shareholding will impact ongoing negotiations. TCI owns about 1% of the stock of EADS, which reported $65 billion in revenues in 2011.
The hedge fund's move adds to the woes of Dassault Aviation, whose survival is widely believed to be dependent on clinching the Indian order. Last week, France cut down Rafale orders for its own Air Force from 11 a year to just 26 over six years, halving the original contract.
06/08/13 Economic Times
