In this Tuesday, Oct. 23, 2018 file photo, Saudi Crown Prince Mohammed bin Salman smiles as he attends the Future Investment Initiative conference, in Riyadh, Saudi Arabia.(AP Photo/Amr Nabil, File)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Saudi Arabia has made a $1 billion bid for a broad partnership with South African state-owned defense group Denel that would include acquisition of a minority stake in a joint venture with Germany's Rheinmetall, a source familiar with the offer said.According to the source, who asked not to be identified due to the sensitivity of the talks, Saudi Arabia was targeting Denel's 49 percent stake in Rheinmetall Denel Munition.RDM is a South African-based joint venture formed in 2008 between Denel and Rheinmetall Waffe Munition GmbH, which holds the remaining 51 percent stake. The source said Rheinmetall had, like Saudi Arabia, expressed interest in acquiring Denel's minority stake in RDM and other Denel divisions but was rebuffed.
FOLLOW THIS ARTICLE