State arms manufacturer Denel says it will continue to engage the Treasury to ensure "misunderstandings" about its Gupta-linked Asia joint venture are resolved.
A Sunday Times report last week said Finance Minister Malusi Gigaba met Denel board chairman Daniel Mantsha in Durban and demanded that the company withdraw its court application against the Treasury. The newspaper also reported that Gigaba had insisted Denel Asia be dissolved.
Denel has lodged an application with the High Court in Pretoria in a bid to have its joint venture with VR Laser Asia approved, despite the Treasury, under former finance minister Pravin Gordhan, not giving it permission, as required by the Public Finance Management Act.
On Tuesday Denel confirmed Mantsha had again met Gigaba.
The company said there would be a follow-up meeting between Mantsha, Gigaba and Public Enterprises Minister Lynne Brown to discuss relevant issues.
"Denel will continue to engage the Treasury directly to ensure any misunderstanding between Denel and it about the Denel Asia joint venture is resolved amicably," the company said.
Denel Asia is a joint venture between Denel and VR Laser Asia, owned by Gupta family associate Salim Essa.
Denel submitted a formal application for approval for Denel Asia under the Public Finance Management Act in December 2015. Brown has approved it but she has told the company it cannot trade until the Treasury approves it.
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