French defense industry giant Thales has been given the green light by the Australian government to acquire the 50 percent of ADI, Sydney, that it doesn’t already own.
Thales will buy the balance of the shares in ADI, owned by Transfield Holdings, Sydney. The value of the transaction, which will be concluded Oct. 16, has not been disclosed by either party.
ADI is Australia’s biggest defense manufacturer, with revenue in 2005 of some 656 million Australian dollars ($490.36 million). Although it has diversified heavily into electronics and systems engineering, it still makes most of its income from manufacturing weapons, ammunition and armored vehicles and building and upgrading warships.
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