IDC, Vision Group Eye Tongaat Hulett Stake to Inject Capital Into 134-Year-Old Sugar Producer
Updated
Updated · Bloomberg · Jun 14
IDC, Vision Group Eye Tongaat Hulett Stake to Inject Capital Into 134-Year-Old Sugar Producer
3 articles · Updated · Bloomberg · Jun 14
Summary
Vision Group and South Africa’s Industrial Development Corp. are discussing an equity investment in Tongaat Hulett that would bring fresh funding into the sugar producer, shareholder and consortium member Robert Gumede said.
The proposed deal would pair a stake purchase with additional capital, giving Tongaat Hulett more financial support as it tries to stabilize its business.
Tongaat Hulett is seeking the funding to avoid liquidation of its largest South African assets, raising the stakes for a company that has operated for 134 years.