Adani Enterprises Subsidiaries to Acquire 72.8% Stake in Flight Simulation Companies

Adani Enterprises Ltd. announced that its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), and Horizon Aero Solutions Limited (HASL), a subsidiary of ADSTL, have signed share purchase agreements with Flight Simulation Solutions Pvt. Limited (FSS), Flight Simulation Technique Centre Pvt. Limited (FSTC), and their existing shareholders. The agreements are for the acquisition of a 72.8% stake in FSTC. The cost of acquisition is INR 820 Cr. The acquisition provides special rights to HASL and ADSTL, including the right to appoint directors and the first right to share in case of enterprise subscription.