23/08/2017 14:32 SAST | Updated 23/08/2017 15:28 SAST

Guptas' Tegeta Sale: 7 Things You Need To Know About Charles King SA

Oakbay Investments' sale of Tegeta to a little-known Swiss-based company for R2.97 billion has raised suspicions the latter may be a shelf company.

UPDATE: Since publishing this video, Oakbay Investments has revealed Amin Al Zarooni -- the owner of Charles King SA -- is a "leading businessman in the United Arab Emirates and a highly respected and active participant in global private equity markets".

According to an Oakbay statement, his businesses include Arep Ville Abu Dhabi, Egis Emirates Abu Dhabi, Gimaex - One Seven, Golden Triangle Investment, Nepteam Middle East, Jafar Al Zarooni Real Estate and Triangle Business Connection.

It said Charles King SA is a "Special Purpose Vehicle" acquired by Zarooni to "facilitate further investments" like Tegeta's Optimum Coal, Koornfontein, and Optimum Coal Terminal acquisition.