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BREAKING NEWS: Gupta's Oakbay confirm sell mining unit Tegeta for R2.97bn


Gupta-owned company Oakbay Investments has made another sale, this time letting go of its Tegeta Exploration and Resources business.

In a statement, the controversial family says that it sold the company to Swiss-based firm - Charles King SA - for over R2.9 billion.

Earlier this month, Finance Minister Malusi Gigaba directed National Treasury to conduct a forensic investigation into the Tegeta report which was handed over to Parliament's Standing Committee on Public Accounts.

Tegeta scored multi-billion rand coal supply contracts with Eskom despite issues with its coal.

Earlier this week, the controversial family announced that it had sold ANN7 and The New Age to former government spokesperson Mzwanele Manyi for R450 million.
Khabza Mkhize

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