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Gupta-linked Trillian says it has proof R495m Eskom deal was not phony

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Eric Wood, CEO of Trillian Capital Partners.
Eric Wood, CEO of Trillian Capital Partners.

Cape Town –Trillian said it has proof the work it did with McKinsey for Eskom was above board, after the power utility revealed it was investigating a R495m payment to the Gupta-linked firm.

The importance of Eskom’s investigation into this contract relates to how Tegeta (owned by the Guptas and President Jacob Zuma’s son Duduzane) bought Optimum mine from Glencore for R2.15bn in 2016. Gupta associate Salim Essa has a 60% stake in Trillian.

The question that could face more scrutiny when Parliament begins its inquiry into Eskom in August is whether Eskom’s payment to Trillian was a proxy to give the Guptas extra cash to buy Optimum. Former public protector Thuli Madonsela said in her State of Capture report that Trillian contributed R235m to the purchase consideration for Optimum, but Trillian has denied this accusation.

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