Sasol completes divestment of its interest in Gemini

JOHANNESBURG – Sasol has announced that the divestment of its 50% interest in the Gemini high-density polyethylene joint ventures to INEOS Gemini HDPE LLC 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.