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Denel’s mooted partner probed

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A new Rooivalk armed helicopter made by Denel. (File AFP)
A new Rooivalk armed helicopter made by Denel. (File AFP)

A prospective shareholder in one of Denel’s companies is being probed by the Special Investigating Unit for alleged tender fraud.

The proposed business relationship will mean that Kwane Capital (previously Laman Financial Services) will buy 49% of shares in the weapons manufacturer LMT Holdings – shares that do not currently belong to Denel.

Kwane Capital’s CEO is controversial businessman Mcebisi Mlonzi.

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