ROB ROSE: Why Tongaat Hulett really is too big to fail
Revelations that potential buyers have been shortlisted is good news for half a million people, even if the clock is ticking furiously
06 April 2023 - 05:04
“There’s a willingness from everybody in the universe to see Tongaat Hulett survive,” one insider tells the FM. “It may not survive in the form it is now, but it seems there’s a better than even chance it’ll still be around in some guise.”
That diagnosis of the ailing sugar firm, once Africa’s largest and most opulent when it was part of the Anglo American machinery, was given a shot in the arm last week when the business rescue practitioners (BRPs) who are running the show revealed that a “strategic equity partner process is expected to result in final binding offers by May 26 2023”...
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