Optimum wars: Billionaire ex-Gupta associate threatens to walk away, leaving jobs at stake | Business

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The British billionaire who is in the process of buying the assets of the Gupta family’s Optimum Coal Mine has threatened to walk away from the deal. | vercingetorics

Bianke Neethling/News24

The businessman trying to buy the assets of the Gupta family's lucrative Optimum Coal Mine has threatened to walk away from the deal if the Richards Bay Coal Terminal succeeds in terminating an agreement allowing the mine to export coal. In an affidavit commissioned in Parktown on Friday, Daniel McGowan, a shadowy British billionaire and former Gupta associate, said should the RBCT be allowed to terminate the agreement, he would walk away from his bid to buy Optimum Coal Mine and Optimum Coal Terminal . If this happened, the mine and the terminal would crash, leaving creditors in the lurch and thousands of miners jobless, read the affidavit.

McGowan's affidavit is in support of a legal bid by Optimum's business rescue practitioners to stop the RBCT from terminating the agreement with effect from 31 January. Last week, Optimum's business rescue practitioners filed an urgent application in the KwaZulu-Natal High Court in Durban to stop RBCT from terminating an agreement which allows OCT to export coal to lucrative markets overseas.Get 14 days free to read all our investigative and in-depth journalism.

 

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vercingetorics Probably getting interference from ministers/cadres wanting a cut! I think that’s why so many delays+ red tape, so complicated + frustrating eventually u have to pay someone!

vercingetorics If the Guptas are fugitives and their assets are proceeds of crime, why aren’t they forfeited to the state? Why are they allowed to sell their assets and profit from the sale? Government should just take charge for once and restore public confidence in the system.

vercingetorics Thought the froze all Gupta assets

vercingetorics Good!!! take a walk!!!

vercingetorics Mxm....let him walk away,he's not only investor

vercingetorics Let him walk. It's a sham offer at best.

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