JOHANNESBURG - Tongaat Hulett has secured a strategic equity partner to hopefully save jobs locally.
The group went into business rescue in October 2022.
READ: Former Eskom exec appointed interim Tongaat Hulett CEO
Tanzanian sugar giant, Kagera Sugar will acquire Tongaat Hulett's complete sugar division in South Africa as well as its sugar businesses in Zimbabwe, Mozambique, and Botswana.
Kagera also has operations in the Democratic Republic of Congo and the Middle East. The value of the deal is unclear at present.