Tongaat Zim safe despite parent’s liquidation

THL group finance director Robert Aitken said the progress in Zimbabwe, where Tongaat operates through sugar producer Hippo Valley Estates and Trian­gle, was in line with the group’s objective of stabilising its regional businesses following years of un­certainty at the parent company level.

OPERATIONS at Tongaat Hulett Zimbabwe remain stable and unaffected despite the seismic shift in the corporate landscape of its parent company, Tongaat Hulett Limited. In a significant development, the joint Business Rescue Practitioners (BRPs) in South Africa have applied to the High Court for an order to place the South African entity into provisional liquidation.…

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