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South Africa's Oakbay sells mining unit for $225 mln
August 23, 2017 / 6:16 AM / 4 months ago

South Africa's Oakbay sells mining unit for $225 mln

JOHANNESBURG, Aug 23 (Reuters) - South Africa’s Oakbay Investments said on Wednesday it would sell its mining unit Tegeta for 2.97 billion rand ($225 million) to Switzerland-based Charles King SA.

Oakbay is owned by the Gupta family, which is accused of wielding undue influence on President Jacob Zuma. Both Zuma and the family deny any wrongdoing.

$1 = 13.2256 rand Reporting by Tiisetso Motsoeneng; Editing by Edmund Blair

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