Tawazun acquires 60% stake in Al Jaber
Abu Dhabi - WAM
Tawazun, the strategic investment firm focused on defense and strategic manufacturing, and the Abu Dhabi-based Al Jaber Group (AJG) have reached an agreement whereby, Tawazun will acquire 60 percent of the AJG-owned Al Jaber Land Systems. The two companies are currently working together to finalize the agreement under which the new partnership will be created. Under the new partnership the company will be named Jobaria Defense Systems\' and be owned 60% by Tawazun and 40% by AJG. Jobaria Defense Systems will be operating within the military defense market as a supplier of modern weapons systems, with a key focus on Design, Development, and Upgrade and Support Service programs. Tawazun and AJG are founding partners of Burkan Munitions Systems.
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