South African investors look to create $1b sugar monopoly

A South African investor group, Vision Sugar, is seeking to acquire Illovo Sugar, a move that would consolidate control of Africa's sugar, ethanol, and bioenergy markets under a single entity. The potential $800 million to $1.1 billion deal, involving Tongaat Hulett and Illovo, aims to create a regional monopoly in southern Africa, with discussions already initiated with Associated British Foods, Illovo's parent company.