Robert Gumede’s Vision consortium takes ownership of Tongaat
It is not clear how it will recapitalise the company as no working capital is offered in Vision’s business rescue plan
11 January 2024 - 15:59
UPDATED 11 January 2024 - 20:51
SA businessperson Robert Gumede’s consortium, Vision, has acquired sugar producer Tongaat Hulett’s debt for an undisclosed sum by buying banks’ claims amounting to R8bn.
The vote on the deal was passed on Thursday by creditors and banks even as there was late-night lobbying to cause Vision to fail in its bid...
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