Tongaat offloads Umhlanga property for R167m
The embattled sugar producer, which is urgently trying to reduce debt, has sold property to Balwin
21 February 2020 - 09:08
Embattled sugar producer Tongaat Hulett, which wants to reduce its SA debt by R8.1bn by March 2021, said on Friday it had sold property in Umhlanga for R167m.
The sale of 64ha to Balwin comes after the company said earlier in February it may sell its starch business as it battles a R13bn debt pile...
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