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The Chinese plan to buy a Brazilian manufacturer of heavy weapons systems

Natasha Kumar By Natasha Kumar Jun16,2024

The Chinese plan to buy of the Brazilian manufacturer of heavy weapons systems

According to the previous decision of the Ministry of Defense of Brazil, the company must sell 49 percent, so the controlling stake would remain in the hands of the Brazilians, reports  Polske Radio.

< p>The state-owned Chinese company Norinco wants to buy 49 percent of the shares of the leading Brazilian manufacturer of heavy weapons systems, including missiles and shells. Military sources and government newspapers said a document with the Chinese company's claim reached Brazil's Defense Ministry on Thursday. The management of the Brazilian company declined to comment on the matter.

An Australian group had previously held talks with the Brazilian company, which is struggling with financial difficulties, but abandoned its plans due to the unwillingness of the Australian government to provide credit.

< p>A source familiar with these negotiations said that the second reason for the change of mind of the Australians was the refusal of the Brazilian government to allow the shipment of weapons to Ukraine.

According to the previous decision of the Ministry of Defense of Brazil, the company must sell 49 percent, so the controlling stake would remain in the hands of Brazilians.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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