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BAE to sell South African business to Denel

11th August 2014 - 16:22 GMT | by Tim Fish in London

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BAE Systems’ Land Systems South Africa (LSSA) business is to be sold to Denel for 855 million Rand ($80.2 million) in the fourth quarter of 2014, it has been announced.

In a statement released on on 11 August, BAE Systems’ head office stated that an agreement for the proposed sale of its holding in LSSA had been reached with South Africa’s state-owned defence manufacturer, Denel.

This is good news for Denel, which now has an armoured vehicles manufacturing plant to take over, which is one of LSSA three main business units including Olifant Manufacturing Company (OMC); BAE Gear Ration; and

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