Pressure mounts on companies doing business with the Gupta family
Trillian CE Eric Wood has promised an announcement next week on the buy-out of 60% stakeholder Salim Essa, who is linked to the Gupta family
Embattled Trillian Capital Partners chief executive Eric Wood says he will make a major announcement about the buying out of Gupta-linked business associate Salim Essa. "The restructuring of our business is an absolute necessity now more than ever. That restructuring is to move away from the Gupta link‚" he said. Wood was speaking shortly after Trillian chairman Tokyo Sexwale released a damning report on Trillian’s business activities with regard to multi-million rand deals with numerous state-owned entities and companies‚ including Eskom and Transnet. According an independent investigation by advocate Geoff Budlender‚ contained in the report released by Sexwale‚ the deals are alleged to have seen several Gupta companies receive kickbacks from a series of suspected dodgy business dealings. According to invoices contained in Budlender’s report‚ Eskom paid Trillian‚ in which Essa has a 60% stake‚ more than R250m for various services rendered between April and August 2016. Transnet pai...
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