BREAKING: Guptas sell Tegeta to Swiss owner

23 Aug 2017

Matthew le Cordeur, Fin24

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Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97 billion, it announced on Wednesday.

This is the second sale announced by the Guptas this week. They announced on Monday that Oakbay would sell its media assets broadcaster ANN7 and The New Age newspaper to a firm set up in June by Mzwanele Manyi, a former government spokesperson.

Tegeta is at the centre of former Public Protector Thuli Madonsela’s State of Capture report, which found irregularities in its dealings with Eskom. Brian Molefe stepped down as chief executive a result of the report in 2016.

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