South Africa: Sugar producer Tongaat Hulett to sell sugarcane farm for $21 million

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Johannesburg: Tongaat Hulett, South African sugar producer who is indebted has decided to sell a sugarcane farm located at eSwatini to the public pension fund of the country at the cost of 375 rand ($21.83 million).

According to the Tongaat the step has been taken to reduce the debt of the company. The company is working on the same by raising capital, selling assets, cutting costs.

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