The race to rescue embattled sugar group Tongaat Hulett, on which more than 25,000 people rely for their livelihoods, is intensifying as the owner of Illovo has stepped into the bidding fray.

Associated British Foods (AB Foods), which owns Illovo Sugar Africa, confirmed it has put in a bid for Tongaat Hulett's Mozambique operations, while the preferred bidder, Kagera, has yet to raise finance to buy the whole business and losing bidder Terris Consortium has resubmitted its bid. ..

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.