SA Tycoon Robert Gumede Moves Closer to Rescuing Tongaat Hulett as Liquidation Showdown Looms

South Africa: Tongaat Hulett Business Rescue - Brinkmanship On Steroids, in Service of a Dubious Zimbabwean Elite

Attempts to take over Tongaat Hulett have been shadowed by suspicions that the initiative is driven by politically exposed Zimbabweans pushing to externalise their cash and their influence by gaining control of the sugar value chain in Southern Africa. The latest revelations in the legal battle involving the stalled business rescue of Tongaat Hulett and its possible liquidation.

IDC may take Tongaat stake as bailout talks with Vision continue

The Vision Consortium is in talks with the SA government over a potential deal to keep the mills of distressed sugar giant Tongaat Hulett running.

IDC, Vision Near Deal to Save Century-Old Africa Sugar Mills

Vision Group is in talks with South Africa’s Industrial Development Corp. to take an equity stake in sugar refiner Tongaat Hulett in exchange for additional funding.

IDC may take Tongaat stake as bail out talks continue

Robert Gumede reveals negotiations with IDC for a joint venture to revive Tongaat Hulett, aiming to secure financial stability and avert asset sell-off.

Tongaat Hulett business rescue: Brinkmanship on steroids, in service of a dubious Zimbabwean elite

Source: Tongaat Hulett business rescue: Brinkmanship on steroids, in service of a dubious Zimbabwean elite Attempts to take over Tongaat Hulett have been shadowed by suspicions that the initiative is driven by politically exposed Zimbabweans pushing to externalise their cash and their influence by gaining control of the sugar value chain in Southern Africa. The latest revelations in the legal battle involving the stalled business rescue of Tong…

SA tycoon Robert Gumede moves closer to rescuing Tongaat Hulett as liquidation showdown looms

Robert Gumede's Vision Group is reportedly close to a rescue deal for Tongaat Hulett that could avert liquidation and protect thousands of jobs ahead of a crucial court showdown. The post SA tycoon Robert Gumede moves closer to rescuing Tongaat Hulett as liquidation showdown looms appeared first on Nehanda Radio.