Vitol said to reach deal over South Africa coal-terminal rights

Vitol SA has reached an agreement with a company in which a stake is held by the Gupta family, who are friends of South Africa’s President Jacob Zuma, for the right to export coal from South Africa’s Richards Bay Coal Terminal, according to a person familiar with the transaction. The deal between Vitol and Tegeta Exploration and Resources Ltd. has closed, said the person, who asked not to be named because the information is not public. The Gupta’s Oakbay Investments owns 29 percent of Tegeta.