TIISETSO MOTSOENENG: The heat is on for Sasol to conduct a fire-sale of assets
The petrochemical firm turns to disposals before approaching reluctant shareholders and creditors for a R33bn injection
22 April 2020 - 20:09
Pressure is on for Sasol to play its part in fixing its capital structure before tapping shareholders for a cash injection of about R33bn and convincing creditors to give it a break in the likely scenario of breaching loan agreements.
A day after the futures contract for a barrel of crude oil traded at minus $37, a bizarre scenario but rooted in reason, Bloomberg reported that Sasol had picked Bank of America to look for a buyer for a minority stake in its giant Lake Charles chemical plant...
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