14-05-2025
Tongaat Hulett's business rescue: Vision Consortium secures funding for lenders
Hippo Valley and Triangle Sugar are Tongaat Hulett units that supply Zimbabwe and the EU with sugar.
Tongaat Hulett's Business Rescue Practitioners (BRPs) said they had received confirmation from the lenders, most South African banks, that they had received the balance of the funds owed to them by the Vision Consortium, the company that is taking over the struggling Southern African sugar group.
This follows the Vision Parties confirming to the BRPs in April 2025 that they had secured credit approval to meet the payments of the balance of their obligations owed to the Lender Group, to enable the Vision parties to complete the acquisition of the claims and security.
'This represents a significant step forward in the successful implementation of the BR Plan and reinforces the BRPs' confidence in its ongoing viability,' the BRPs said in a statement.
