US unit sale to cut Sasol debt

Sasol has been looking to reduce borrowings after a series of cost overruns and delays at its Lake Charles chemicals project

04 October 2020 - 00:07 By

Sasol, the chemicals and fuel manufacturer, has agreed to sell a $2bn (about R33bn) stake in its US base-chemicals business to LyondellBasell Industries to help pay down debt.

The unit will become a joint venture of the two companies, Sasol said on Friday. The deal is subject to a vote by shareholders and is expected to be completed this year...

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