Tongaat Hulett confirms consortium deal

Tongaat Hulett’s business rescue practitioners have confirmed that businessman Robert Gumede’s Terris consortium has entered into an agreement to buy the billions owed by the company to banks, effectively bringing the group a step closer to owning Tongaat.

The sugar producer’s creditors have to vote on who should buy the company when the business rescue plan detailing the bidders is published later in November...

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