The South African Competition Commission has recommended the sale of BAE Systems Land Systems South Africa (LSSA) to state owned defence group Denel go ahead as the transaction is not likely to lead to reduced competition.
In August BAE Systems and Denel signed an agreement to proceed with the sale, valued at R855 million ($79.85 million), which was anticipated to conclude during the fourth quarter of this year after receiving regulatory and other approvals.
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S.Africa; Government watchdog recommends sale of BAE Land to Denel.
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