Tongaat Hulett | Gumede aligned consortium takes over

JOHANNESBURG -  Months of uncertainty over the future of Tongaat Hulett are over.

Creditors have voted to approve the business rescue proposal, for the acquisition of the sugar producer by the Vision Group.

Tongaat Hulett was placed under business rescue in October 2022 when it emerged that key former executives, had allegedly manipulated accounts for years.

New management failed to right the ship after difficulties experienced during the Covid pandemic.

Andrew Russell of SA Canegrowers spoke to eNCA.