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Gigaba halts Denel's deal with Gupta-linked firm - report

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Cape Town – Finance Minister Malusi Gigaba has reportedly halted a multi-billion transaction between state-owned arms manufacturer Denel and Gupta-linked VR Laser Asia. 

According to a report in the Sunday Times, Gigaba “summoned” Denel board chairman Dan Matsha to Durban – where the World Economic Forum on Africa took place – to raise concerns about the intended deal.
 
Gigaba allegedly also told Mantsha to withdraw Denel’s high court application against National Treasury which under former finance minister Pravin Gordhan did not want to authorise Denel’s joint venture with VR Laser Asia. 

Denel is challenging Treasury in court over its blocking of the intended joint venture with VR Laser.

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