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IDC to become Vision shareholder as agreement reached to rescue Tongaat
The business rescue practitioners (BRPs) of Tongaat Hulett have reached an agreement with the Industrial Development Corporation of South Africa (IDC) and the Vision Group of companies to preserve Tongaat Hulett’s business rescue, maintain trading operations and support implementation of the approved business rescue plan. This agreement will see the IDC become a significant shareholder in Vision companies across South Africa, Zimbabwe, Mozambique and Botswana, while extending post-commencement finance (PCF) support to Tongaat Hulett to the end of September.
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businessday.co.za
Last-minute deal for Tongaat Hulett
Deal provides basis for preserving an estimated 250,000 jobs in industry value chain
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engineeringnews.co.za
IDC to become Vision shareholder as agreement reached to rescue Tongaat
The business rescue practitioners (BRPs) of Tongaat Hulett have reached an agreement with the Industrial Development Corporation of South Africa (IDC) and the Vision Group of…
