Struggling sugar and property group says it has wrapped up a waiver and undertaking deal relating to its SA debts
Tongaat Hulett is in talks with lenders in a bid to secure a standstill agreement for its debts. Picture: WALDO SWIEGERS
The lenders were willing to reach a standstill agreement “subject to terms and conditions to be agreed and necessary approvals being obtained”, Tongaat said. The lenders had agreed to waive their rights arising from any breach of Tongaat’s financial covenants.
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