Besieged by battles on two fronts, Tongaat Hulett is trying to correct itself
11 April 2022 - 19:59
The R3.5bn fraud case against former Tongaat Hulett executives has been postponed to June, to give the state time to firm up racketeering charges to be brought against the accused, who are implicated in the country’s largest accounting scandal since Steinhoff.
The sugar giant, which has also been in a tug-of-war with a consortium of shareholders over a controversial proposed R4bn rights offer, is awaiting the outcome of an investigation ordered in March by the Takeover Special Committee (TSC) that could see the controversial exemption awarded to Magister Investments taken off the table...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.