South African sugar producer Tongaat Hulett’s business rescue practitioners have reached an agreement to sell the 134-year-old company to Vision Group, the parties said on Wednesday.
The deal to save thousands of jobs will also see South Africa’s state-owned Industrial Development Corporation convert its 2.5 billion rand ($154.16 million) loan to Tongaat Hulett into equity and become a significant shareholder.
Sign up here.
To… [1117 chars]
Source: Reuters | Published: 2026-06-17T08:29:45Z
Credit: Reuters
