Saraf and Partners has advised Dassault Aviation in its acquisition of an additional 2% stake from Reliance Aerostructure Limited in their joint venture company – Dassault Reliance Aerospace Limited, for ~₹175 crore.

As part of the acquisition, Dassault (an existing 49% shareholder) shall acquire 2% shareholding of DRAL from Reliance, thereby becoming DRAL’s majority (51%) and controlling shareholder. The acquisition by Dassault shall be undertaken by way of a secondary purchase of shares.

Saraf and Partners advised Dassault on all aspects of the transaction.

The transaction team was led by Vaibhav Kakkar (Senior Partner), Snigdhaneel Satpathy (Partner) and Debarpan Ghosh (Partner).

Dassault Aviation is a leading French company engaged in the businesses of military and business jets, and is the integrator of Rafale & Falcon aircraft, as well as a manufacturer of airframes and subsystems of these aircraft.

Dassault Reliance Aerospace Limited is a joint venture between Dassault Aviation and Reliance Aerostructure. The joint venture was established to fulfill offset obligations as part of the Rafale fighter jet deal between the Indian government and Dassault Aviation.

The facility is located in Nagpur, India, and is aimed at promoting indigenous aerospace manufacturing capabilities in the country.