JOHANNESBURG, Jan. 4, 2021 /PRNewswire/ -- Sasol shareholders
are referred to the Company's Stock Exchange News Service
announcement dated 24 November 2020,
in relation to the divestment of its 50% interest in the Gemini
high-density polyethylene joint ventures to INEOS Gemini HDPE LLC
(the "Divestment").
Sasol is pleased to announce that the Divestment successfully
closed on 31 December 2020.
The consideration of US$404
million was satisfied through a combination of cash and
release from debt obligations. The relevant debt facilities and
security package have now been successfully restructured, releasing
Sasol and its subsidiaries from any obligation to provide further
security. The cash proceeds from the transaction were received on
31 December 2020, and will be used by
Sasol to repay near-term debt obligations.
For further information, please contact:
Sasol Investor Relations,
Tiffany Sydow, Investor Relations
Officer
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com
Disclaimer - Forward-looking statements
Sasol may, in this document, make certain statements that are
not historical facts and relate to analyses and other information
which are based on forecasts of future results and estimates of
amounts not yet determinable. These statements may also relate to
our future prospects, expectations, developments and business
strategies. Examples of such forward-looking statements include,
but are not limited to, the impact of the novel coronavirus
(COVID-19) pandemic on Sasol's business, results of operations,
financial condition and liquidity and statements regarding the
effectiveness of any actions taken by Sasol to address or limit any
impact of COVID-19 on its business; statements regarding exchange
rate fluctuations, changing crude oil prices , volume growth,
increases in market share, total shareholder return, executing our
growth projects (including LCCP), oil and gas reserves, cost
reductions, our climate change strategy and business performance
outlook. Words such as "believe", "anticipate", "expect", "intend",
"seek", "will", "plan", "could", "may", "endeavour", "target",
"forecast" and "project" and similar expressions are intended to
identify such forward-looking statements, but are not the exclusive
means of identifying such statements. By their very nature,
forward-looking statements involve inherent risks and
uncertainties, both general and specific, and there are risks that
the predictions, forecasts, projections and other forward-looking
statements will not be achieved. If one or more of these risks
materialise, or should underlying assumptions prove incorrect, our
actual results may differ materially from those anticipated. You
should understand that a number of important factors could cause
actual results to differ materially from the plans, objectives,
expectations, estimates and intentions expressed in such
forward-looking statements. These factors and others are discussed
more fully in our most recent annual report on Form 20-F filed on
24 August 2020 and in other filings
with the United States Securities and Exchange Commission. The list
of factors discussed therein is not exhaustive; when relying on
forward-looking statements to make investment decisions, you should
carefully consider both these factors and other uncertainties and
events. Forward-looking statements apply only as of the date on
which they are made, and we do not undertake any obligation to
update or revise any of them, whether as a result of new
information, future events or otherwise.
View original
content:http://www.prnewswire.com/news-releases/sol-sasol---successful-completion-of-the-divestment-of-sasols-50-equity-interest-in-gemini-hdpe-llc-301200031.html
SOURCE Sasol Limited