Sasol Disposes Of Its Investment In The Iranian Joint Venture Arya Sasol Polymer Company ("Arya")

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Aug 19, 2013, 03:25 ET

JOHANNESBURG, Aug. 19, 2013 /PRNewswire/ -- On 16 August 2013, Sasol Investment Company (Pty) Limited, a wholly owned subsidiary of Sasol, entered into a definitive sale and share purchase agreement pursuant to which Main Street 1095 (Pty) Limited, a South African subsidiary of an Iranian investor, completed and effected the acquisition of 100% of the shares of SPI International (Pty) Limited ("SPII")("Transaction"). SPII is the indirect owner of a 50% interest in Arya.

As described in our most recent trading statement of 1 August 2013, the fair value of Sasol's investment in Arya was written down to R2,3 billion. This was based on our assessment of the fair value of Arya as well as the accounting requirement to recognise operating profits of approximately R1,6 billion for the second half of the 2013 financial year.

As a result of this Transaction, Sasol has no on-going investment in Iran.

The Transaction is not a categorised transaction in terms of the JSE Limited Listings Requirements.

19 August 2013
Johannesburg

Sponsor: Deutsche Securities (SA) Proprietary Limited

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Sasol Investor Relations Team
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SOURCE Sasol Limited