Sugar producer Tongaat Hulett, which is still grappling with the fallout of an accounting scandal two years ago, says it had secured a new deal with its lenders and avoided a default.
The embattled group, valued at only R1bn on the JSE, needed to reduce debt by R8.1bn by the end of March, but this has been pushed back until the end of September...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
They will loot that sugar in no time. Watch this space
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