In a potential sign that Sasol will sell a stake in its Lake Charles Chemical Project at a discount, the petrochemicals group said it will write down chemicals and energy assets by more than R100bn as the Covid-19 pandemic hit commodity prices and product demand.

The writedowns, which will push the debt-laden company into an annual loss, will largely be charged on its base chemical assets, whose valuations would be slashed by R71.3bn while its energy and chemicals portfolios will be cut by R12.5bn and R27.7bn.

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