Denel heading 'down the shoot' without international buyer

Saudi Arabia has made a bid for a broad partnership with State-owned defence group Denel.

The partnership would include an acquisition of a minority stake in a joint venture with Germany’s Rheinmetall.

So is Denel on the market?

Military and Defence Analyst at Jane's Defence Weekly, Helmoed Heitman says only the government can decide.

The reality is, if Denel doesn't find an international partner it will go down the shoot.

Helmoed Heitman, Military and Defence Analyst at Jane's Defence Weekly 

READ: Denel's interim board to give an update on liquidation in 7 days

The tragedy of it is that Denel was on the verge of making real money until it got messed up in the last couple of years.

Helmoed Heitman, Military and Defence Analyst at Jane's Defence Weekly 

ALSO READ: Why the Gupta family's alleged deal with Denel is dubious

I don't see it pulling itself out of trouble by itself, even with SA government backing.

Helmoed Heitman, Military and Defence Analyst at Jane's Defence Weekly 

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