May 31, 2007 -- Defence Group BAE Systems PLC is in talks with the South African government to create a jointly owned company with Denel, the state-owned defence group, the Financial Times reported. The deal would see BAE's local armoured vehicle manufacturing business, OMC, merge with Denel's artillery systems and turret-building units. The report added that Alec Erwin, South Africa's minister for public enterprises, said Denel and BAE would act as partners in a subsidiary company.
Source: AFX International Focus
Source: Factiva
