White Oak withdraws white flag at Sanjeev Guptaâs GFG Save Share United States financier White Oak is pushing ahead with due diligence on a refinancing deal for the Whyalla steelworks and Tahmoor coal operations owned by Sanjeev Guptaâs GFG Alliance despite fears it may have ditched the transaction after British authorities began a fraud investigation into GFG. South Australian Treasurer Rob Lucas said on Sunday that White Oak had made it âpretty clearâ it had not pulled out of the deal and would continue with due diligence despite confusion late on Friday night when conflicting statements from White Oak emerged.