The would-be white knight keeps his visor firmly down, writes robrose_za.
It may seem that Tanzanian billionaire Seif Ali Seif is a signature away from snaffling ailing sugar firm Tongaat Hulett, but it’s anything but a done deal.
Last Friday, Tongaat’s business rescue practitioners — Peter van den Steen, Trevor Murgatroyd and Gerhard Albertyn — picked Seif’s Kagera Sugar as the “strategic equity partner” to buy Tongaat’s sugar assets in South Africa, Mozambique and Zimbabwe. But the BRPs tell the FM there are a “lot of challenges still” and several “crucial” meetings will take place this week.
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