Can Tongaat Hulett be saved?
Tongaat has two options: sell assets, or find a white knight to throw a bucket of cash into the company to settle the debt. PSG Asset Management CEO, says it’s “concerning” that the business rescue plan has been delayed. But, it is believed, Tongaat’s SA sugar business is far from a lost cause — provided it can sort out the debt, and get access to enough capital to weather the seasonal fluctuations.