Indian billionaire Lakshmi Mittal nears $610 million sale of South African steelmaker
South Africa's state development lender will pay R3 billion in cash and take on R7 billion of debt to control ArcelorMittal South Africa.
Industrial Development Corporation
Billionaire Robert Gumede’s Tongaat Hulett faces fresh $32 million court setback
Billionaire Robert Gumede’s Tongaat Hulett rescue faces a fresh legal setback after South Africa’s Constitutional Court rejected the company’s final appeal over R517 million in disputed sugar-industry payments.
IDC bets R2.5 billion on Robert Gumede's Tongaat rescue and doubles down
South Africa's IDC has doubled down on its R2.5 billion Tongaat Hulett commitment, converting its loan to equity in a bet that the 134-year-old sugar giant can be rescued.
South Africa’s IDC seeks control of ArcelorMittal SA, linked to Noluthando Gosa
ArcelorMittal SA, the country’s largest steel producer, has faced growing challenges from rising production costs, cheap imports, and unreliable rail services.