New deal for Tongaat Hulett is a bitter pill for investors
Shareholders in the debt-stricken sugar group are likely to be heavily diluted as Robert Gumede’s Terris consortium swoops
The convoluted and sometimes illogical efforts to rescue debt-laden sugar giant Tongaat Hulett will probably force long-suffering shareholders to swallow a very bitter pill.
In a nutshell, shareholders will be heavily diluted if a new consortium, led by Terris Sugar, converts the loans it has bought into Tongaat scrip at a knockdown price...
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