SAMI continues partnership talks with South Africa's Denel

16/07/2019 Argaam

 

The Saudi Arabian Military Industries (SAMI) is continuing to hold commercial partnership talks with South Africa’s Denel which said this month it would not sell a stake to the Saudi firm, Reuters reported on Monday.

 

Denel Chief Executive Danie du Toit told Reuters the state-owned company was open to partnerships but would not sell equity or relinquish intellectual property rights to SAMI, which last year made a $1 billion bid for a broad partnership.

 

“We have ongoing talks,” Saudi Arabian Military Industries (SAMI) Chief Executive Andreas Schwer told Reuters on Monday.

 

“Acquiring a stake is just one option but various options are still there.”

 

He said that included partnering on programs or working on greenfield projects.

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