/ 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

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