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Saudi Arabia: South Africa deal comes unstuck
Riyadh’s strategy of developing its own defence industry expertise has suffered a setback after South Africa’s troubled Denel group reportedly rejected a rescue offer by the state-owned Saudi Arabian Military Industries (Sami), which last year proposed a $1bn investment in the company. Sami has not ruled out setting up partnership ventures with Denel in the future but, in the meantime, it has been developing its ties with another South Africa defence firm, Paramount Group.
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