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Business/Financial

U.K. Regulators Approve Rheinmetall, BAE Military Vehicle Venture

By Cal Biesecker

Thursday, June 13th, 2019

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U.K. Regulators Approve Rheinmetall, BAE Military Vehicle Venture

Boxer vehicle at BAE System's Telford, England facility. Photo: BAE Systems.

A United Kingdom regulatory agency on Thursday approved the pending acquisition by Germany’s Rheinmetall of BAE Systems Global Combat Systems business, paving the way for the two companies to establish a military vehicle joint venture. The two companies announced their proposed joint venture in January, with Rheinmetall owning 55 percent of the business and BAE the rest. The combination is between Rheinmetall Defence UK Ltd and BAE Systems Global Combat Systems Ltd. The U.K. Competition and Markets Authority said the…

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