Tanzania’s Kagera Sugar to acquire Tongaat Hulett Sugar assets
Tongaat Hulett has secured Kagera Sugar as a strategic equity partner in a deal that will see the Tanzanian sugar giant acquire the sugar assets of the troubled sugar producer and property group. The currently suspended JSE-listed group, Tongaat, which went into business rescue in October 2022, confirmed on Friday that the proposed transaction will comprise the acquisition of its complete sugar division in South Africa as well as its sugar businesses in Zimbabwe, Mozambique, and Botswana.