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Tongaat to sell starch business to Barloworld

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The sugar producer wants to cut debt by R8.1bn by March 2021

A Tongaat Hulett sugar cane field. Picture: BLOOMBER/WALDO SWIEGERS

Tongaat is selling assets in a bid to cut R8.1bn in debt by March 2021. The former blue-chip firm also intends to ask shareholders for about R4bn in a rights offer.

 

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