South Africa, June 18 -- The deal, announced on Wednesday, 17 June, is expected to help safeguard thousands of jobs linked to the company's operations and South Africa's cane-growing sector.

Business rescue milestone Tongaat Hulett, one of South Africa's biggest sugar millers with capacity for 2 million metric tonnes, employs thousands of people across South Africa, Zimbabwe, Mozambique and Eswatini.

The company has been under business rescue since 2022 following major accounting irregularities and faced the threat of liquidation earlier this year after Vision Group's long-running takeover attempt appeared to falter.

This put about 250,000 grower and supplier jobs linked to the cane-growing sector in KwaZulu-Natal and Mpumalanga at ri...