Since the establishment in 2009 of the Mahindra & Mahindra (74%) and BAE Systems (26%) Joint Venture, Defence Land Systems India (DLSI), there has been significant evolution in the Indian Land Systems market. Developments in both the industry environment and in customer procurement frameworks and acquisition strategies have led the shareholders to conduct a strategic review of the DLSI business. Following that review, it has been jointly agreed that Mahindra & Mahindra will acquire BAE Systems' 26% shareholding in the entity.
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