Sasol wraps up $404m Gemini sale and repays debt
SA’s biggest chemicals and energy company concludes its Gemini sale in the US and puts money into repaying near-term debt
04 January 2021 - 08:52
Fuel and chemicals giant Sasol’s sale of assets to rein in debt took another step forward with the finalisation of its $404m (R5.9bn) disposal of its stake in the US-based Gemini polythene business.
Sasol, which recently said it had raised $3bn, or nearly R44bn, from asset sales — the biggest being the $2bn divestment from its Lake Charles chemical project in the US — has flagged the possibility of a rights issue to reduce debt...
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