Competition Tribunal Gives Sasol/Air Liquide Transaction the Green Light


Johannesburg, South Africa – Sasol is pleased to announce that the Competition Tribunal has approved its sale of 16 air separation units (ASUs) to Air Liquide Large Industries South Africa Proprietary Limited (Air Liquide). This concludes the final outstanding suspensive condition from the agreement.

The approval was received subject to various conditions relating to future ownership of the ASUs. These include joint procurement of renewable power up to 900 megawatts, decarbonisation investments by Air Liquide, ensuring that there’s no negative impact on employment and adhering to various commitments on Broad-Based Black Economic Empowerment. This is in addition to support for localisation and small, medium, micro and black owned enterprises.

”We are pleased to officially welcome Air Liquide as one of Sasol’s partners in Sasol’s decarbonisation journey,” said Sasol President and CEO, Fleetwood Grobler. “This transaction is a significant contributor to us achieving our accelerated and expanded asset disposal programme targets, executed in line with our balance sheet, shareholder value and strategic objectives.”

In line with the terms of the agreement, the transaction will close within 10 business days with the total proceeds of the aggregate of R5,525 billion and EUR148,75 million (to be settled in US Dollars) settled at closing. Thereafter, Air Liquide will officially own and operate the 16 ASUs, which are located in Secunda, Mpumalanga.

Sasol may, in this document, make certain statements that are not historical facts that relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return, executing our growth projects (including LCCP), oil and gas reserves and cost reductions, including in connection with our BPEP, RP and our business performance outlook. Words such as “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”, “forecast” and “project” and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report on Form 20-F filed on 28 August 2018 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
Please note: One billion is defined as one thousand million. bbl – barrel, bscf – billion standard cubic feet, mmscf – million standard cubic feet, oil references brent crude, mmboe – million barrels oil equivalent. All references to years refer to the financial year 30 June. Any reference to a calendar year is prefaced by the word “calendar”. 

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