Sasol agrees to sell another US asset for $404m
The group will offload its stake in polythene business Gemini to partner Ineos Olefins and Polymers
24 November 2020 - 10:37
UPDATED 24 November 2020 - 17:49
Chemicals and energy group Sasol has agreed to sell its 50% stake in US-based polythene business Gemini for $404m (R6.2bn), the latest disposal as the group seeks to cut debt and avoid tapping shareholders.
Sasol intends to sell the stake to existing partner Ineos Olefins and Polymers, which operates the toll manufacturing facility in La Porte, Texas, with the parties setting a target date of end-December for concluding the transaction...
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