South Africa says Saudis interested in buying stake in state arms firm

Saudi Arabia has approached South Africa about buying struggling state-owned defence firm Denel, Foreign Affairs Minister Lindiwe Sisulu said on Thursday.

“I do know that there have been overtures by Saudi Arabia to buy a stake in our ailing Denel. I do not know what the outcome of those negotiations will be when it gets to the NCACC (National Conventional Arms Control Committee),” she told a media briefing.

JOHANNESBURG (Reuters)

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