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Piers Marsden informed the Hawks in July 2016 of dodgy Eskom transactions

1 November 2017 4:43 PM
Tags:
Eskom
Gupta
Optimum coal mine
Tegeta
Parliament state capture inquiry
Bembani
Piers Marsden
Business rescue practitioner Piers Marsden testified on the state capture inquiry into Eskom in Parliament on Wednesday.

On Wednesday, business rescue practitioner Piers Marsden, told Parliament during the state capture inquiry into Eskom, that the power utility paid the Gupta owned Tegeta mining company more than half a billion rand to help it buy the Optimum coal mine.

The transaction pertains to the sale of Glencore’s Optimum mine to Tegeta, which Marsden says he had found suspicious and reported to the Hawks.

EWN Reporter, Lindsay Dentlinger reports that Marsden detailed the events of how Optimum mine was purchase by Tegeta and how it all unfolded beginning with an offer by Bembani to buy it which was rejected by Eskom. There was later an offer by KPMG on behalf of Tegeta to buy the mine, says Dentlinger.

With just four days to go before the transaction had to be concluded, Oakbay informed the business rescuer that there was some R600 million short of the financing required to buy the mine.

Lindsay Dentlinger, Parliamentary reporter at EWN

Read: Optimum Coal Mine in the spotlight as Eskom inquiry continues

It was only just hours later when that a meeting was convened at Eskom, where a pre payment was made directly to Tegeta of about R586 million. That money went directly from Eskom to Tegeta before it even became a shareholder of the Optimum mine.

Lindsay Dentlinger, Parliamentary reporter at EWN

Dentlinger says Marsden found the transactions suspicious and reported that to the Hawks.

According to Dentlinger, he laid the complaint with the Hawks around July last year and it wasn't until this week that he heard from the Department of Priority Crimes, informing him of a new investigative officer on the case and that there were requests to interview him again.

Listen to the EWN report in the clip below:


1 November 2017 4:43 PM
Tags:
Eskom
Gupta
Optimum coal mine
Tegeta
Parliament state capture inquiry
Bembani
Piers Marsden

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