Tongaat business rescue vote to go ahead on Wednesday
RCL withdraws legal challenge after having its demands on sugar industry levies met
07 January 2024 - 15:41
Creditors are set to vote for the new owner of Tongaat Hulett on Wednesday, with Mozambican agricultural and consumer group RGS Group squaring off against Robert Gumede’s Vision Consortium after RCL Foods withdrew its latest legal challenge.
RCL Foods, which owns Selati sugar, filed papers on Friday to interdict the Vision offer from being voted for on Wednesday, but withdrew the legal challenge on Sunday afternoon after having its demands on sugar industry levies met. ..
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