Article length: 463 words
South Africa: Sasol mulls Rompco sale
Heavily indebted Sasol has opened a data room for its 50% stake in the Rompco pipeline, in a bid to gauge investor interest in a potential sale within the next few months. Even before the impact of coronavirus and the oil price collapse, Sasol had run up $9.8bn of debt, much of it from the Lake Charles chemicals facility in the US. The company is considering various options, including the sale of its 49% stake in Oryx GTL, which runs a gas-to-liquids plant in Qatar, and has hired Bank of America to find a buyer for a minority stake in the Lake Charles complex.
Credit value: 6