Debt-ridden Tongaat may finally be in a position to raise capital
If a rights offer lacks support, there is a path forward with lenders and with asset disposal, says CFO Rob Aitken
15 August 2021 - 16:46
While Tongaat Hulett’s mountain of debt continues to loom large and options to sell assets have become increasingly limited, it may finally be in a position to raise capital, likely through a rights offer underwritten by a strategic equity partner.
This could allow it to finally shift the pendulum from its focus on putting out fires as it has lurched from one disaster to the next over the past 18 months...
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