';
Views Article – Sharenet Wealth

Europe, News

South Africa’s Tongaat mulls sale of assets, rights issue

JOHANNESBURG (Reuters) – South African sugar producer Tongaat Hulett said on Monday it is considering the possible sale of assets, a possible equity capital raise or a combination thereof in order to reduce the group’s debt.

Tongaat, which said in April it would restate financial information after a formal review revealed certain accounting practices that needed to be re-examined, also said debt restructuring talks with South African and Mozambican debt providers are progressing well.

(Reporting by Nqobile Dludla; Editing by Chris Reese)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.