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(From Business Day (South Africa))
Byline: Edward West
Tongaat-Hulett share price rises on plans to split Restructure will bring in BEE shareholders KwaZulu-Natal Correspondent DURBAN The share price of Tongaat-Hulett Group, the sugar, property and aluminium group, shot up 8% to a high of R113,70 on its finalisation of plans to split into two listed companies and introduce black empowerment shareholders.
Once unbundled, Tongaat-Hulett, which will comprise the agriculture and property operations, and Hulamin, the aluminium group, would be listed in the second quarter of next year, CEO Peter Staude (pictured) said yesterday. About R500m would be …