BUSINESS NEWS - The Zuma family stand to benefit handsomely from the Gupta’s decision to sell Tegeta Exploration and Resources for R2.97 billion to the unknown Swiss-based company Charles King SA.
Tegeta owns the Optimum and Koornfontein collieries, as well as the Optimum Coal Terminal company.
According to the latest available information, Duduzane Zuma, through his stake in Mabengela Investments, holds a 28.5% stake in Tegeta.
If it is assumed that all the shareholders in Tegeta have agreed to the sale of their shares for a collective R2.97 billion, Duduzane Zuma, and the Zuma family by extension, could pocket as much as R846 million.
