Business Times<\/a><\/strong>, talking to Regiments chairman Litha Nyhonyha, and executive director Niven Pillay, the Guptas tried to negotiate a purchase of a 51% stake of the company, but were unsuccessful.<\/p>\nRegiments is an advisory firm which previously held contracts with Transnet. The government advisory space is limited, and the Guptas already have access to the field through Trillian, whose contracts with Eskom and Transnet have come under serious scrutiny in recent months.<\/p>\n
Eskom and Transnet are by far the SOEs with the biggest procurement budgets in the country, with contracts often in the billions.<\/p>\n
Eric Wood, the CEO of Trillian, is a former director of Regiments, and was the Guptas’ doorway into the business, the paper reported.<\/p>\n
Through Wood, the Guptas tried to negotiate a majority stake of Regiments with Pillay, offering to make him a “dollar billionaire” and leave him on as CEO – on condition that they wrangle Nyhonyha out of the business as he was not cooperative.<\/p>\n
According to Pillay, he was summoned to Saxonwold as many politicians and business people before him, where the offer was made.<\/p>\n
He rejected the offer, adding that Regiments could not be sold unless all partners (Wood, Pillay and Nyhonyha) agreed.<\/p>\n
It was after this rejection that Regiments started getting blocked from government contracts, Pillay said.<\/p>\n
Regiments is currently taking action against Wood in court, trying to get him declared a delinquent director, for moving to Trillian – run by Gupta ally Salim Essa – and taking confidential company data with him.<\/p>\n
Wood is also under fire for reports where a whistleblower revealed that he was aware of former finance minister Nhlanhla Nene’s firing a week before it happened.<\/p>\n
Former Trillian chairman, Tokyo Sexwale, described Wood as a ‘good man’, and said that he would welcome an opportunity to clear his name.<\/p>\n
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