RGS says it should be the buyer of Tongaat
02 February 2024 - 18:27
UPDATED 04 February 2024 - 12:49
Mozambican consumer group RGS pulled out the day before the vote to buy Tongaat Hulett but says it is still the best buyer for the business and a small “window of opportunity” exists to overturn the ownership by Vision Consortium.
Vision, headed by SA businessman Robert Gumede and Zimbabwean Rute Moyo, acquired the sugar producer on January 11 for an undisclosed sum by buying a portion of the lenders’ debt, which totalled almost R8bn...
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.