peter staudelatest news & developments
Bitter impact: Tongaat Hulett’s liquidation will have a devastating ripple effect throughout not just KwaZulu-Natal but the entire country too, filtering right down to the consumer. Photo: Delwyn Verasamy

Tongaat Hulett collapse looms

Vision, the lead secured lender to the troubled sugar giant, said it was committed to saving the company and jobs despite the business rescue process failing

  • Eyaaz
5 min read
At stake: Tongaat Hulett employs 40  000 people on its farms in KwaZulu-Natal (above) and Mpumalanga and 65 000 more in Botswana, Mozambique and Zimbabwe. (Delwyn Verasamy/M&G)

Robert Gumede’s Tongaat Hulett purchase hinges on R2bn PIC loan

The agreement will give Terris Sugar discounted ownership of Tongaat Hulett’s R8 billion bank debt and control at the upcoming creditors’ vote

  • Eyaaz
5 min read