SAUDI ARABIA BIDS $1BN ON SA'S DENEL.

Position:Business Intelligence: Deals - South Africa - Brief article

Saudi Arabia, the world's third-largest military spender, has made a $1bn bid to partner with South African state-owned defence group Denel. The company is in the midst of a liquidity crunch, and is struggling to pay salaries and deliver on roughly R18bn ($1.2bn) of outstanding orders. The deal will include the acquisition of a minority stake in a joint venture with Germany's Rheinmetall. Saudi Arabia, which spent around $56bn...

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