GE to buy Tata stake in JV

The GE Group is acquiring the 50 per cent stake of Tata Sons in Engineering Analysis Center of Excellence Pvt Ltd, a 50:50 joint venture between the two companies.

The centre provides analysis expertise and engineering services in areas like solid parametric and finite modelling, heat transfer, fluid dynamics, stress analysis, and life assessment of aircraft engines.

Tata Consultancy Services is the direct partner in the Bangalore-based 100 per cent export-oriented unit.

After the acquisition, GE Pacific (Mauritius), an associate company of GE Aircraft Engines, will hold 50 per cent stake. The rest will be with GE India Technology Center Pvt Ltd.

Tata Sons, the holding company for TCS, has approved the move. GE has applied to the Foreign Investment Promotion Board for approval.