October 11, 2018 / 10:40 AM / 6 days ago

S.Africa says Saudis interested in buying stake in state arms firm

JOHANNESBURG, Oct 11 (Reuters) - 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. (Reporting by Alexander Winning Writing by Ed Stoddard Editing by Joe Brock)

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