Search for 'perfect dawn' to ease Sasol's 'perfect storm'
The price war between Russia and Saudi Arabia had exacerbated conditions in an oil sector that was already in a parlous state
22 March 2020 - 00:23
Sasol's ambitious plan to generate $6bn (the equivalent of about R105bn on Friday afternoon) in additional cash through cost savings, asset disposals and a possible "last resort" rights issue is going to be extraordinarily difficult to pull off in a market wrecked by the coronavirus pandemic.
"They had a perfect storm which got them into trouble and now they're talking about a perfect dawn to get them out of trouble," says Adrian Saville, founder and CEO of Cannon Asset Managers...
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