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Johannesburg - Diversified aluminium and sugar firm Tongaat-Hulett Group Ltd said on Friday it had sold its textiles division to Aranda Textile Mills for an undisclosed amount.
"An agreement has now been reached on the sale of the group's textile interests to Stefano Magni, executive chairman of Aranda Textile Mills," Tongaat said in a statement.
The agreement is subject to the fulfilment of certain preconditions that include Competition Commission approval.
Tongaat sold its Corobrik division in a deal that became unconditional at the end of May this year.
Tongaat still has starch and glucose and property divisions.