Tongaat Hulett to sell all South African assets, operating businesses to Vision Sugar

Distressed JSE-listed sugar producer Tongaat Hulett has announced that it will sell all its assets and operating businesses in South Africa to Vision Sugar South Africa. The purchase price for Tongaat Hulett’s South African assets will be the fair market value determined by an appointed independent valuer, whose decision, absent any manifest error, shall be final and binding on the parties, plus an amount equal to the assumed liabilities, the company said in a statement.