Govt to acquire Australian radar manufacturer for $500m
The federal government will spend almost $500 million to take majority ownership in military radar firm CEA Technologies. From July 2023, the government will hold a non-controlling shareholding in CEA for 18 months, Defence minister Richard Marles, Finance minister Katy Gallagher, and Defence Industry minister Pat Conroy announced on Thursday. The deal will eventually lead to majority ownership and the creation of a new Government Business Enterprise (GBE), with the government expected to hold 72 per cent of the shares.
Source: innovationaus.com