Tongaat Hulett's financial restructuring plan is due to be submitted to the Board of Directors by September 30. In Mozambique, the group of investors operates sugar factories in Xinavane, Maputo province, and Mafambisse, in Sofala. Although without giving any figures, the firm expects that with the new structure...
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June 27, 2022June 27, 2022Latest, Market Announcements, National
Tongaat Hulett remains focused on company recapitalization
Multinational company Tongaat Hulett, which operates sugar factories in Mafambisse, in Sofala, and Xinavane, Maputo province, says it is committed to maintaining its operations in the country, while continuing efforts for its recapitalisation, according to a statement from the company. Meanwhile, in a statement, Tongaat confirms that...
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US company offers USD 20 million to buy sugar mills in Xinavane and Mafambisse
Lusitania Investment Capital LLC, a company based in the United States of America, has been negotiating with sugar producer Tongaat Hulett, listed on the Johannesburg Stock Exchange since January this year, about a possible acquisition of this group's operations in Mozambique. Lusitania Investment Capital has offered Tongaat Hulett up to R3.5...
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Sugar workers in Xinavane burn down and paralyze the village
The workers of Tongaat Hulett, owner of Açucareira de Xinavane, set fire to houses and cars since the early hours of today, and also vandalized commercial establishments, some of them close to the Police Station of that village in Manhiça district. In all this there is still no data about the loss of human lives, only about a hit-and-run accident. There are people...
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Tongaat Hulett announces proposed financial recapitalization of through new share offering
The company Tongaat Hulett, which operates the sugar factories of Mafambisse, in Sofala, and Xinavane, Maputo, has just announced a proposal for recapitalization, through a rights offering of new shares, partially underwritten by Magister Investments Limited, a shareholder and partner of the group. This is a financial injection that will be made in all units...
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Magister acquires more than half the shares of Tongaat Hulett
South African sugar maker, Tongaat Hulett, announced a share dispersal for capital increase which led to a 28% drop in the price of those shares. Still, it appears that the Mauritian family-owned company, Magister, will buy more than half of the shares. "Magister will partially underwrite the rights offering up to a maximum of two...