Logistical disruptions wipe R16bn off Sasol’s value
Sasol tumbles on force majeure after Transnet strike bites
20 October 2022 - 08:34
UPDATED 20 October 2022 - 22:53
Sasol lost R16bn in market value on Thursday after the chemicals and energy group declared force majeure and said it is working to quantify the effect of the recent disruptions to rail and port services across its value chain.
The value of its shares fell as much as 11%, the worst intraday drop in two years, before pulling back to close 8% lower at R289.53 on the JSE...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.