Tongaat Hulett to slowly close down its property firm

Indebted sugar company Tongaat Hulett will slowly close down its property company but is still selling some land and investigating potential developments, according to the division’s business rescue plan published on Friday.   

Tongaat Hulett Development (THD) is the property arm of the sugar producer that converts farming land into property developments. It owns extensive tracts of land in KwaZulu-Natal and is the first unit of the sugar company to publish its business rescue plan. The business plans of Tongaat Hulett, its SA division and its feeds division will be published at the end of May. ..

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