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Discussions with potential buyers underway - Guptas

Yesterday the family announced it would sell all South African shareholdings.

Oakbay Investments logo. Picture: Facebook.

JOHANNESBURG - The Gupta family says it's already in discussions with several international prospective buyers after announcing plans to sell all South African shareholdings.

The family says it will announce the way forward soon.

It says the decision to sell their shares in South African companies is intended to save thousands of jobs.

In April, chairman Atul Gupta and chief executive officer Varun Gupta resigned from Oakbay Resource, with the family claiming concerted attacks on the companies associated with the family.

The family, which has close links to the president, claims a negative narrative has been created against them and that the it has been a victim of a political campaign against it.

This was after several banks closed the accounts of the Gupta-owned Oakbay Investments.

Family's spokesperson Gary Naidoo says, "We believe the decision is in the best interest of our business, the country and our colleagues."

The family says it believes selling their shares will lead to growth in the businesses.