Adani Defence to acquire majority stake in Air Works Deal at enterprise value of Rs 400 crore; acquisition enhances Adani’s capabilities in defence MRO sector.

Adani Defence Systems & Technologies (ADSTL) has signed a share purchase agreement to acquire 85.8 percent shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint.

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Adani Defence & Aerospace clinches Rs 400 crore deal to acquire Air Works Ahmedabad, Dec 23 (SocialNews.XYZ) Adani Defence & Aerospace announced on Monday that it has signed a binding agreement to acquire Air Works, India’s largest private-sector maintenance, repair, and overhaul (MRO) company, for an enterprise value of Rs 400 crore. "Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works India (Engineering) Private Ltd," a company statement said.

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