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Tongaat says business rescue is not faltering as subsidiaries join the process

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The two wholly owned businesses, which rely on Tongaat for support, are in financial distress

Two subsidiaries of sugar giant Tongaat Hulett have entered business rescue, two months after the holding company did the same.

Tongaat Hulett Sugar SA and animal feeds operation Voermol Feeds are wholly owned subsidiaries and have historically relied on Tongaat Hulett for financial and operational support...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 TimesLive Premium.

 

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