Tanzanian multimillionaire a step closer to owning Tongaat Hulett
Metis Strategic Advisors has named Kagera Sugar as the preferred buyer of sugar company Tongaat
21 July 2023 - 10:33
UPDATED 24 July 2023 - 11:18
Sugar producer Tongaat Hulett, one of KwaZulu-Natal’s biggest employers, is likely to be sold to Tanzanian multimillionaire Nassor Seif, whose companies include a logistics firm, a car distributor, a trailer manufacturer, a tyre maker, sugar farms and a Middle-Eastern sugar processing company.
Business rescue practitioners Metis Strategic Advisors announced Kagera Sugar as the preferred buyer on Friday, after whittling down a list of 70 interested offers and initially settling on eight serious parties. The sugar firm is part of a Tanzanian group of companies known as the Super Group...
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