3 days ago
After compound sold, Gupta brothers have no significant assets in SA
JOHANNESBURG - The business rescue practitioners tasked with disposing of the Gupta brothers' properties said there were no more significant assets belonging to the Gupta brothers in South Africa.
On Tuesday, the auctioneers of the infamous Gupta compound announced the sale of the compound to a single buyer.
The three properties were sold for R34.5 million.
The business rescue practitioners for the Gupta-owned properties announced that they accepted and confirmed an offer for all three Saxonwold houses that were owned by the controversial brothers.
The offer was made by a single buyer who now owns a 17-bedroom en-suite property, an 8-bedroom property and a more modest 3-bedroom house.
The auctioneers, Park Village Auctions, said the business rescue practitioners would receive their funds in accordance with the terms of the business rescue plan and the Gupta brothers' creditors couls also expect to receive payment.
The practitioners said that since the Guptas fled from South Africa in 2016, the assets from their companies, including the Optimum coal mine and The New Age Media, had been disposed of.
