JOHANNESBURG - Vision Parties has secured credit approval to meet its payment obligations.
They are the consortium looking to buy the struggling sugar firm Tongaat Hulett.
The approval will allow it to conclude its acquisition of the claims held by Lender Group Members who supplied funding to Tongaat-Hulett before it entered into business rescue.
The plan is set to restore the business, which has a footprint in KwaZulu-Natal, Zimbabwe, Mozambique and Botswana.
The firm employs 2,600 in KZN alone, supports over 25,000 jobs in surrounding rural communities and sources sugar from 15,000 small-scale growers.