Edition:
India

Tongaat Hulett Disposes Interest In Tongaat Hulett Namibia Proprietary Limited


Tuesday, 19 Nov 2019 

Nov 19 (Reuters) - Tongaat Hulett Ltd ::JSE: TON - TONGAAT HULETT DISPOSES OF ITS INTEREST IN TONGAAT HULETT (NAMIBIA) (PROPRIETARY) LIMITED.TONGAAT HULETT LTD - PURCHASE PRICE ON A DEBT FREE BASIS FOR NAMIBIAN BUSINESS IS N$220 MILLION PAYABLE IN CASH.TONGAAT HULETT LTD - TONGAAT HULETT PLANS TO USE ITS SHARE OF PROCEEDS TO REDUCE ITS DEBT LEVELS.TONGAAT HULETT LTD - THN HAS ENTERED INTO A SALE OF BUSINESS AGREEMENT TO SELL ENTIRE SUGAR PACKAGING AND DISTRIBUTION BUSINESS OF THN TO BOKOMO.TONGAAT HULETT LTD - TONGAAT HULETT WILL ULTIMATELY SHARE IN 51% OF PROCEEDS FROM SALE. 

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