Sasol sells stake in gas pipeline to cut debt

The company started hunting for a buyer for its pipeline shares last year as it examined ways to bolster its finances

16 May 2021 - 00:06 By

Sasol has agreed to sell a 30% stake in a natural-gas pipeline running from Mozambique to SA for R5.1bn to pay down debt.

The deal rounded out an accelerated asset-sale programme that helped Sasol reduce borrowings, which ballooned amid cost overruns at a giant US chemicals project, and called off a proposed $2bn (about R28bn) share sale...

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