Elbit Systems divests Ashot Ashkelon holding

by Charles Forrester

Israel's Elbit Systems announced on 21 October that it had signed an agreement to sell its 84.98% stake in component manufacturer Ashot Ashkelon to private equity fund FIMI Opportunity Funds.

The deal is valued at USD88 million and will involve Elbit Systems also selling its capital notes in the firm to FIMI. An expected timeline for the sale was not disclosed, however, it remains subject to regulatory approvals and other closing terms.

The remaining 15.02% of the company stake will be a free-float on the Tel Aviv Stock Exchange.


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Indian defence chief killed in helicopter crash

by Rahul Bedi & Jon Grevatt

India's Chief of Defence Staff (CDS) General Bipin Rawat was one of 13 people killed on 8 December after their Indian Air Force (IAF) Russian Mi-17V ‘Hip' helicopter crashed in foggy weather in mountainous terrain in the southern Tamil Nadu state, officials have confirmed.


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South Africa admits ‘negative impact' of delayed Gripen negotiations

by Helmoed-Römer Heitman

South Africa's Department of Defence released a statement on 6 December admitting that protracted negotiations on a support contract for the South African Air Force's (SAAF's) Gripen fighters are “negatively impacting on the air defence capability”.

It noted that a “lengthy discussion” has taken place between its procurement agency Armscor and Saab, the Gripen's manufacturer. “Proposals have been presented by both parties and are being reviewed to ensure that the matter is conclusively dealt with,” it said. “The SAAF is confident that a solution will be found to resolve the matter.”


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Piaggio Aerospace sale stalls

by Charles Forrester

The sale of Piaggio Aerospace has stalled, with the company to reopen to possible bids in the coming weeks. (Piaggio Aerospace/Paul Cordwell)

The sale of Italy's Piaggio Aerospace to an undisclosed buyer has stalled, company officials confirmed to Janes on 7 December.


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https://www.janes.com/defence-news/air-platforms/latest/elbit-systems-divests-ashot-ashkelon-holding

Israel's Elbit Systems announced on 21 October that it had signed an agreement to sell its 84.98% st...

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