JOHANNESBURG, South Africa – Mozambican group RGS has pulled out of the race to acquire sugar group Tongaat Hulett. In a terse letter announcing the decision, the group accused the business rescue practitioners (BRPs) of being “patently biased in favour” of the proposal from rival bidder Vision Group. RGS had offered about R8bn to rescue the ailing sugar business. In the letter sent to the BRPs on…
