Dispute over the sale of Tongaat’s starch business at an impasse
Barloworld may want out of the deal, saying the pandemic constitutes a material adverse change in the starch business’s value
04 June 2020 - 19:37
A dispute between Barloworld and Tongaat Hulett over a R5.3bn deal to buy the sugar producer’s starch business will be prolonged as the companies are yet to agree on an independent party to oversee the impasse.
Industrial group Barloworld, which had set out to buy Tongaat’s starch business under its subsidiary KLL Group, tried to back out of the deal in May stating that the impact of Covid-19 could alter the value of the acquisition...
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