Tongaat to sell eSwatini sugarcane farm for $21m

The move is part of an effort by Tongaat to cut its debt by R8.1 billion.
Image: Supplied

Indebted South African sugar producer Tongaat Hulett said on Wednesday it would sell a sugarcane farm in eSwatini to the country’s public pension fund for R375 million ($21.83 million).

The move is part of an effort by Tongaat to cut its debt by R8.1 billion by selling assets, cutting costs and potentially even raising capital.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: