Denel says it continues talks with National Treasury over Denel Asia JV

State-owned aerospace and defence technology conglomerate Denel on Tuesday said it was in ongoing talks with Finance Minister Malusi Gigaba and Public Enterprises Minister Lynne Brown regarding its multibillion-rand joint venture (JV) deal with VR Laser Asia, which led to the creation of Denel Asia. Media reports earlier this month stated that Gigaba had approached Denel chairperson Daniel Mantsha to not continue with the deal. Former Finance Minister Pravin Gordhan also refused to approve the JV.