Billionaire entrepreneur and Vision Sugar shareholder Robert Gumede has come out guns blazing against critics accusing his consortium of “corporate hijacking”, regarding Vision’s involvement with the embattled sugar giant Tongaat Hulett.
In a high-stakes defence of Vision’s involvement, Gumede described their acquisition of Tongaat Hulett’s multi-billion rand debt as a “masterly deal” designed to rescue a 134-year-old institution currently languishing in a corporate “ICU”.
Speaking in an interview on SAFM, Gumede sought to “put facts against fiction” regarding the unfolding business rescue saga that has gripped the South African sugar industry.
The controversy follows reports that Vision triggered the immediate…