The outcome of an investigation by the Takeover Regulation Panel looks set to sink the deal that would hand control of one of South Africa’s oldest companies to the controversial Tobacco-dealing family. In the process, new details about who is really involved have emerged.
An investigation by the Takeover Regulation Panel has been concluded and might sink the R2-billion takeover of sugar giant Tongaat Hulett by the controversial Rudland family.
The outcome of an investigation by the Takeover Regulation Panel looks set to sink the deal that would hand control of one of South Africa’s oldest companies to the controversial Tobacco-dealing family. In the process, new details about who is really involved have emerged.
Shareholders challenging the Tongaat takeover by the Rudland family have temporarily blocked the transaction while allegations of improper conduct are probed - including whether Simon Rudland or his proxies have a stake in the company behind the takeover.