South Africa's government has approved BAE Systems' acquisition of a 30% stake in Denel Aerospace. The deal is worth R375 million ($36.8 million), and could be followed by an initial public offer. The South African government chose BAE to take a stake in Denel in October 2000. BAE is at the forefront of South Africa's $5 billion-plus re-equipment programme, with orders for 12 Hawk advanced trainers, with 12 options, and nine Saab/BAE Gripen multirole fighters and 19 options.
Source: Flight International
