October 7, 2019 / 3:47 PM / 12 days ago

South Africa's Tongaat mulls sale of assets, rights issue

JOHANNESBURG, Oct 7 (Reuters) - South African sugar producer Tongaat Hulett said on Monday it is considering the possible sale of assets, a possible equity capital raise or a combination thereof in order to reduce the group’s debt.

Tongaat, which said in April it would restate financial information after a formal review revealed certain accounting practices that needed to be re-examined, also said debt restructuring talks with South African and Mozambican debt providers are progressing well. (Reporting by Nqobile Dludla Editing by Chris Reese)

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