SOL: Sasol - Successful Completion of the Divestment of Sasol's 50% Equity Interest in Gemini HDPE LLC

  • Jan 04, 2021
  • PR Newswire

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.

Sasol Investor Relations,

Tiffany Sydow, Investor Relations Officer

Telephone: +27 (0) 71 673 1929

[email protected]

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