South Africa: Sasol mulls Rompco sale
Issue 418 - 26 Jun 2020
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.
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