Time is running out for Denel to restructure in bid to survive
Winning bidders for its stakes in Rheinmetall Denel Munition and Hensoldt are expected to be named soon
15 May 2022 - 16:13
State arms manufacturer Denel is in a rush against time to accelerate its restructuring, dispose of its noncore assets and find an equity partner in the hope that this will bring the company back from the brink of collapse.
Though its five-year turnaround strategy, which includes selling some of its shares and reducing its operating divisions from six to two (plus one subsidiary), is gaining momentum, Denel has yet to find an equity partner that is expected to inject capital into the cash-strapped firm...
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