In a potential sign that Sasol will sell a stake in its Lake Charles Chemical Project at a discount, the petrochemicals group said it will write down chemicals and energy assets by more than R100bn as the Covid-19 pandemic hit commodity prices and product demand.
The writedowns, which will push the debt-laden company into an annual loss, will largely be charged on its base chemical assets, whose valuations would be slashed by R71.3bn while its energy and chemicals portfolios will be cut by R12.5bn and R27.7bn.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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Writedowns point to Sasol selling a stake in Lake CharlesThe chemicals and synthetic fuels producer says it will write down its energy portfolio by R12.5bn, its base chemicals by R71.3bn, and its chemicals division by R27.7bn
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