/ 9 November 2023

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

Sugar Cane Kzn 5416 Dv (2)
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)
The agreement will give Terris Sugar discounted ownership of Tongaat Hulett’s R8 billion bank debt and control at the upcoming creditors’ vote

This content is restricted to subscribers only.

Join the M&G Community

Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently.

Subscription enables:

  • - M&G community membership
  • - independent journalism
  • - access to all premium articles & features
  • - a digital version of the weekly newspaper
  • - invites to subscriber-only events
  • - the opportunity to test new online features first

Already a subscriber?