Oakbay Investments among other assets in its portfolio of business interest is selling mining business Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97 billion.

 Tegeta Exploration and Resources mines currently supply coal to South African state-owned power utility Eskom.

 Apart from this sale, The Gupta family has sold its media business The New Age (newspaper) and Africa’s News Network 7(Television channel) to Lodidox‚ owned by Mzwanele Jimmy Manyi‚ for R450-million through vendor financing.