NEW DELHI — BAE Systems has withdrawn from the joint venture Defense Land Systems India (DLSI), with Indian partner Mahindra buying out the company’s 26% stake and taking sole ownership. “Since the establishment in 2009 of the joint venture, DLSI, there has been significant evolution in the Indian land systems market,” says an official Mahindra & Mahindra’s defense unit. “Developments in both the industry environment and in customer procurement frameworks and acquisition strategies ...
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