VISION Group is focusing on stabilising Tongaat Hulett (Tongaat)’s regional businesses after last week’s provisional liquidation application by business rescue practitioners in South Africa. This follows the collapse of the business rescue deal due to delayed funding discussions between Vision and the Industrial Development Corporation of South Africa. Tongaat, a South African agribusiness, operates in…
Vision prioritises Tongaat’s regional units
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.