Sasol sells 50 pc stake in Iranian unit

11:11 AM, 19th August 2013

JOHANNESBURG, SOUTH AFRICA: Sasol Ltd, the world’s biggest coal-to-gasoline producer, has sold its stake in an Iranian unit. Sasol sold its 50 per cent stake in Arya Sasol Polymer Co to Main Street 1095 (Pty) Ltd, a South African subsidiary of an Iranian investor. The price of the transaction was not disclosed.

In November 2011, Sasol was in talks to sell its stake in Arya, which is co-owned with Pars Petrochemical Co of Iran, a unit of state-owned National Petrochemical Co. In June, Sasol said the sale process was slower than anticipated. The US and European Union are pressuring Iran to curtail its nuclear programme, which is aimed at developing an atomic weapon.

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