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Gupta's firm saved from being booted off JSE

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Oakbay chair Atul Gupta and President Jacob Zuma (Photo: GCIS)
Oakbay chair Atul Gupta and President Jacob Zuma (Photo: GCIS)

Cape Town – Gupta-owned Oakbay Resources and Energy has averted being booted off the JSE by securing a new sponsor with effect from Thursday.

This comes after the Guptas announced last Friday that they would sell all their shares in their South African businesses by the end of the year.

The Gupta-owned businesses have battled operationally in 2016 due to being blacklisted by all South Africa’s major banks; their former sponsor Sasfin and auditor KPMG also cut ties with them.

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