{"id":21534,"date":"2022-06-20T15:43:53","date_gmt":"2022-06-20T15:43:53","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/american-company-interested-in-mozambique-sugar-mills"},"modified":"2022-06-20T15:43:53","modified_gmt":"2022-06-20T15:43:53","slug":"american-company-interested-in-mozambique-sugar-mills","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/american-company-interested-in-mozambique-sugar-mills","title":{"rendered":"American Company interested in Mozambique sugar mills"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The American company Lusitania Investment Capital is negotiating with the South African sugar producer, Tongaat Hulett, to acquire its assets in Mozambique, reports Monday\u2019s issue of the independent newssheet \u201cCarta de Mocambique\u201d.<\/p>\n

The paper\u2019s sources say that Lusitania has offered Tongaat Hulett 3.5 billion rands (about 218 million US dollars) for the Mozambican assets which include majority holdings in the Xinavane and Mafambisse sugar plantations and mills.<\/p>\n

Tongaat Hulett has an accumulated debt of 6.8 billion rands, and it has postponed the release of its results for the financial year that ended in March to an indeterminate future date. The sale of the Mozambican assets might cut Tongaat Hulett\u2019s debt by half.<\/p>\n

Tongaat Hulett has not yet reacted formally to the Lusitania bid. One of the company\u2019s directors is cited as saying \u201cThe creditors are continuing to support Tongaat Hulett, and the company is currently working with them to seek liquidity, which will allow more time to advance with a comprehensive solution for restructuring\u201d.<\/p>\n

In email correspondence with \u201cCarta de Mo\u00e7ambique\u201d, Lusitania said \u201cthe company is involved in various operations across the African continent with the goal of developing operations in the sustainable growth of foodstuffs, agro-business and agro-industry dealing with food security\u201d. In that context, Lusitania wanted to invest in Mozambique.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The American company Lusitania Investment Capital is negotiating with the South African sugar producer, Tongaat Hulett, to acquire its assets in Mozambique, reports Monday\u2019s issue of the independent newssheet \u201cCarta de Mocambique\u201d. The paper\u2019s sources say that Lusitania has offered Tongaat Hulett 3.5 billion rands (about 218 million US dollars) for the […]<\/p>\n","protected":false},"author":84,"featured_media":21533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-21534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nAmerican Company interested in Mozambique sugar mills - Mozambique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/american-company-interested-in-mozambique-sugar-mills\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American Company interested in Mozambique sugar mills\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. The American company Lusitania Investment Capital is negotiating with the South African sugar producer, Tongaat Hulett, to acquire its assets in Mozambique, reports Monday\u2019s issue of the independent newssheet \u201cCarta de Mocambique\u201d. 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