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5-day change | 1st Jan Change | ||
| 1,340 GBX | +1.52% |
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+3.40% | +20.67% |
| 07:40am | Defence firm Saab raises sales outlook after Q1 profit jump | RE |
| Apr. 24 | BAE Systems: working on a hybrid engine with Cummins | CF |
FRANKFURT (Reuters) - German defence and automotive company Rheinmetall on Monday said it would create a Britain-based joint venture with peer BAE Systems to design, build and support military vehicles.
As part of the deal, Rheinmetall will buy a 55 percent stake in BAE Systems' Britain-based combat vehicles business, with BAE keeping the rest, Rheinmetall said, without disclosing financial details.
The joint venture, which is expected to be completed in the first half and will have about 400 employees, will be named Rheinmetall BAE Systems Land, Rheinmetall said.
(Reporting by Christoph Steitz, editing by Tassilo Hummel)
| 1st Jan change | Capi. | |
|---|---|---|
| +20.67% | 49.69B | |
| +20.55% | 135B | |
| +9.65% | 78.04B | |
| +2.65% | 72.3B | |
| +40.51% | 42.4B | |
| +1.90% | 39.42B | |
| +42.10% | 32.12B | |
| +19.77% | 23.11B | |
| +29.77% | 20.86B | |
| +45.70% | 13.2B |
BAE SYSTEMS PLC 
