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JOHANNESBURG, April 14 (Reuters) – South African’s Oakbay Investments has concluded a 2.1 billion rand ($145 million) takeover of Glencore’s Optimum Coal Holdings, business rescue practitioners of the coal firm said on Thursday.
The finalisation of the deal comes as Oakbay scrambles to restore banking relationships after all four major South African banks cut ties over criticism that its owners, the Gupta family, have undue political influence with President Jacob Zuma.
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.