Oakbay made an announcement on Wednesday morning that it had sold its Tegeta Exploration and Resources business to Swiss-based Charles King SA for R2.9 billion.
However, Eyewitness News has learnt that the little-known company which Oakbay sold its mining interests to is registered in Switzerland as trading in fashion products, clothing and shoes.
EWN senior reporter, Barry Bateman says the sale of Tegeta is part of an effort to save jobs in South Africa. He adds although not much is known about the Swiss-based record, it was registered in 2011 and the purpose then of the company was to trade in fashion.
Bateman says that later to include that it would also hold investments in industrial and other companies.
On the 27th of July, we understand that this Swiss-based company had its company profile changed and in the same week, Mzwanele Manyi was made the director of Lodidox.— Barry Bateman, EWN senior reporter
Bateman reports that this suggests the Guptas were getting things in motion to sell off their business interests in South Africa, such as ANN7 and The New Age publication.
Bateman reports that Ronald Alfred Beau is the sole director of the Swiss-based company, Charles King SA.
Very little is known about him except that he holds numerous interests based in Switzerland.— Barry Bateman, EWN senior reporter
What we've also managed to establish is that his name turns up in the Panama leaks.
Listen to the EWN report in the audio below: