South Africa: Last Minute Deal Saves Tongaat From Liquidation

IDC-led rescue deal set to safeguard 250,000 jobs in sugar industry, says Meth

Minister of Employment and Labour, Nomakhosazana Meth, commends the IDC's decisive intervention in securing a binding agreement that preserves approximately 250,000 jobs and stabilises the sugar industry in South Africa.

South Africa: Last Minute Deal Saves Tongaat From Liquidation

The IDC will extend funding to September

Last minute deal saves Tongaat from liquidation

The IDC will extend funding to September

Lifeline for Tongaat Hulett brings hope to growers

A last-minute agreement between the IDC and Vision Group has saved Tongaat Hulett from liquidation, bringing relief to thousands of sugarcane growers, workers and rural communities. Lifeline for Tongaat Hulett brings hope to growers appeared first on Food For Mzansi

Robert Gumede's Vision Group saves Tongaat Hulett from collapse

Robert Gumede's Vision Group and South Africa's Industrial Development Corporation sealed a binding rescue agreement for Tongaat Hulett on Wednesday, averting the liquidation of the 134-year-old sugar producer on the same day a winding-up application was due to be heard in the Durban High Court.Tongaat Hulett's business rescue practitioners formally withdrew the liquidation application once the tripartite agreement between the practitioners, the…

Tongaat Hulett survival deal preserves 250K jobs

Tongaat Hulett has taken a step towards recovery after reaching an agreement with the Industrial Development Corporation