SA says there is no Saudi proposal on Denel under consideration

The South African government is not considering any proposal from Saudi Arabia on taking a stake in struggling state arms company Denel, Public Enterprises Minister Pravin Gordhan said, after the Gulf country offered to partner with Denel last year.

“There is no proposal from the country in question under consideration,” Gordhan said, answering a question from an Inkatha Freedom Party lawmaker about whether the government was considering selling a stake in Denel to the Saudis.

Gordhan added that if any sale of Denel shares were to take place it would follow a transparent, public process.