South African Firms Suspect UAE Companies May Have Obtained Military Intellectual Property

South Africa’s Special Investigations Unit is probing alleged unlawful acquisition of military intellectual property by UAE state-linked firms, focusing on suspected misappropriation by employees at defense companies including Denel, while Paramount Group cooperates and conducts its own internal inquiry. The report outlines a failed 2016 joint venture between a Paramount subsidiary and ADASI involving a $150 million loan to transfer IP for the MWARI aircraft, subsequent takeover by Edge Group, an arbitration ruling and $230 million penalty that led to Paramount’s bankruptcy, and ongoing disputes over IP ownership, with evidence of potential criminal conduct referred to the National Prosecuting Authority.