Gupta lieutenant Salim Essa and Trillian cut ties

Trillian Capital Partners has announced it has reached an agreement with Trillian Holdings, which is 60% owned by close Gupta family associate Salim Essa, to sell its shares in the company.

The financial advisory company, which has been linked to the controversial Gupta family, cited unrelenting media allegations arising from Essa’s holding in the company as reasons for the agreement.

“In terms of the deal, Trillian Holding’s 60% stake in Trillian has been acquired by Trillian Capital Partners CEO Eric Wood. This brings Wood’s share to 85% with the rest of the shares owned by management and staff,” Trillian said in a statement.

The company said it had always maintained its “innocence in the face of allegations” that it unjustifiably benefited from state-owned enterprises for work it had not done.

“It is therefore with regret that Mr Essa has taken the decision to divest from the business.”

The company also thanked Essa for his role in attempting to create a leading black advisory business, and wished him well in his future endeavors.

Trillian’s nonexecutive independent chairperson, Tokyo Sexwale, stepped down from the company in June following the release of advocate Geoff Budlender’s report into allegations of state capture against the company.

ALSO READ:

//