Sasol's headquarters in Rosebank, Johannesburg. Picture: FINANCIAL MAIL
Sasol “2.0” will be focused on chemicals and energy, with each responsible for their own profit and loss, the group said. Sasol has been hit by cost overruns at its Lake Charles facility in the US, an explosion at that facility, as well as oil price volatility in 2020, putting severe strain on a group that had about R155bn in debt at the end of December. Sasol’s market capitalisation was just under R90bn on Thursday morning.
The group said it had also agreed a new debt framework with lenders, but is facing a rise in borrowing costs.
Source: Loan Digest (loandigest.net)
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