January 27, 2020 / 10:43 AM / a month ago

Brazilian gunmaker Taurus signs JV with Indian steel group Jindal - filing

SAO PAULO, Jan 27 (Reuters) - Brazilian gunmaker Taurus Armas SA has signed a joint venture with Indian steelmaker Jindal Group to produce guns in India, according to a securities filing on Monday.

Under the agreement, Jindal will hold a 51% stake in the venture and Taurus the remaining shares. The deal was signed during Brazil's President Jair Bolsonaro visit to India. (Reporting by Carolina Mandl; Editing by Jan Harvey)

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