Tongaat Hulett Limited (THL) successfully disposed of its Starch business to Barloworld’s KLL Group on October 31, after KLL paid an initial amount of over R4.9-billion as the purchase consideration.
About R4.5-billion of this amount has been paid to THL lenders to reduce its South African debt.
The balance of R450-million has been paid into an escrow account to cater for the possibility of claims being made by KLL Group against THL under the warranties or other provisions of the share purchase agreement.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
EMAIL THIS ARTICLE SAVE THIS ARTICLE
ARTICLE ENQUIRY
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
