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Tongaat Hulett hopes on turnaround whiz
27 June 2022

Tongaat Hulett hopes for a turnaround whiz.

 

In a move aimed at helping the debt-laden sugar producer map out a fresh survival plan, Tongaat Hulett has picked turnaround specialist Piers Marsden as its chief restructuring officer to help it close a painful chapter in its 130-year history. This follows Tongaat and Magister Investments on Friday scrapping the transaction, which had faced fierce opposition from minority shareholders on grounds that it would give Magister control of their company at a bargain price.

 

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