CAPE TOWN - Salim Essa has sold his stake in business advisory firm, Trillian. In a statement released by the firm today, it was confirmed that Essa would divest.
"Trillian Capital Partners today announced that an agreement has been reached with Trillian Holdings, wholly owned by Mr Salim Essa, to sell its shares in the company," read the statement.
"The transaction, which took effect on 24 July 2017, sees Trillian Holding’s 60% stake in Trillian being acquired by Trillian Capital Partners CEO Eric Wood. The acquisition brings Dr Wood’s share to 85% with the rest of the shares owned by management and staff," they said.
Trillian said that the unrelenting media allegations arising from Essa’s holding (despite no proof or official charge) had a negative impact on the ability of Trillian Capital Partners and its staff to reach their full potential.
"It is therefore with regret that Mr Essa has taken the decision to divest from the business. Trillian has always maintained its innocence in the face of allegations and reiterates the belief that it has a team of excellent staff who are able to deliver on their mandates to the highest standards and hope they will be given a fair opportunity to do so in the future," read the statement.
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