A South African investor group that recently rescued the debt-laden agricultural producer Tongaat Hulett is planning a takeover of rival Illovo Sugar, according to sources with direct knowledge of the matter. The move would consolidate control of the continent’s sugar, ethanol, and bioenergy markets under a single African-owned giant. Representatives from Vision Sugar, led by South African billionaire Robert Gumede and Zimbabwean dealmaker Rute Moyo, have initiated contact with ABF CEO George Weston about a deal, one person said. Corporate finance advisory sources estimate that Illovo Sugar holds an enterprise value of between $800 million and $1.1 billion. ABF declined to comment while spokespeople for Illovo did not respond to requests for comment.