Vision to restructure, rebrand Tongaat

SOUTH African investment consortium, Vision Group, is expected to rebrand agriculture and agri-processing firm, Tongaat Hulett Limited, as it prepares to assume all its assets with a book value of ZAR5,9 billion (US$330,05 million).

This follows a rejection by Tongaat’s shareholders of a debt-to-equity deal with Vision on August 8, which would have given the latter a 97,3% stake in the company. Tongaat has operations across the region including Zimbabwe.

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