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Guptas sell Tegeta to Swiss owner

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Cape Town – Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97bn, 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 former government spokesperson Mzwanele Manyi.

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 CEO in 2016 as a result of the report .

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