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...

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.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.