Just one buyer for Tongaat left standing after RGS withdraws its offer
It is unclear why the Mozambican consumer and agricultural group withdrew at the 11th hour
09 January 2024 - 15:26
UPDATED 10 January 2024 - 10:08
Mozambican consumer and agricultural group RGS has withdrawn its offer for Tongaat Hulett, leaving only Robert Gumede’s Vision Group in the running to buy the business.
Creditors, which include banks, suppliers and the Industrial Development Corporation (IDC), will have to decide whether to accept the Vision consortium’s offer without a counterproposal at the crucial business rescue vote scheduled for Wednesday morning...
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