IDC's cash injection not enough to save Tongaat, says NewCo
The grower-led consortium says it has not heard from the business rescue practitioners about its proposal to acquire the sugar giant’s key assets
Source: businesslive.co.za
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Tongaat Hulett saga: Zim farmers raise red flag
Sugarcane farmers in Zimbabwe’s Lowveld region have expressed concern over the corporate rescue process of Tongaat Hulett South Africa, saying the recent resignations of the company’s directors “is a show of no confidence” in the business rescue plan and its likelihood to succeed which could impact on local operations. The farmers, who deliver nearly half…
Source: thezimbabwemail.com
Could KZN cane growers' plan to save the industry work?
It's been described as viable and ‘having merit’ – but the business of extracting businesses from a business that is in business rescue is likely to be quite complex.
Source: moneyweb.co.za
Cane growers consortium offer to buy distressed Tongaat Hulett's assets
Tongaat Hulett declared financial distress last month and began a voluntary business rescue process, leaving thousands of cane growers unpaid.
Source: ewn.co.za
Consortium of cane growers wants to buy a chunk of Tongaat's assets
However, it's still in talks as to how to fund these plans.
Source: moneyweb.co.za