Robert Gumede’s Vision gets credit nod to settle Tongaat’s debt
Turnaround experts say successfully implementing the plan will mark a new chapter for the business
03 April 2025 - 05:00
Vision Consortium has secured money to pay the remaining amount due to Tongaat Hulett’s creditors, with the sugar company having been offered a lifeline by billionaire Robert Gumede’s group as part of the business rescue process.
The business rescue plan aims to convert most of Tongaat’s R8.5bn debt into equity, with Vision paying R5bn up front and taking on the balance as debt...
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