Business & Finance
IDC, Vision Near Deal to Save Century-Old African Sugar Mills
Key Points
Deals IDC, Vision Near Deal to Save Century-Old African Sugar Mills Tycoon-backed Vision Group is in talks with South Africa’s Industrial Development Corp. to take an equity stake in sugar refiner Tongaat Hulett in exchange for additional funding, Vision Group shareholder and consortium member Robert Gumede said in an interview. The deal would see additional capital injected into the business, and assist the 134-year old sugar producer’s effort to avoid liquidation of its largest assets in...
Deals
IDC, Vision Near Deal to Save Century-Old African Sugar Mills
Tycoon-backed Vision Group is in talks with South Africa’s Industrial Development Corp. to take an equity stake in sugar refiner Tongaat Hulett in exchange for additional funding, Vision Group shareholder and consortium member Robert Gumede said in an interview.
The deal would see additional capital injected into the business, and assist the 134-year old sugar producer’s effort to avoid liquidation of its largest assets in South Africa, Gumede said.