Sasol Sells 30% Stake in Mozambique Gas Pipe for $361 Million

Bloomberg Quint | May 14, 2021 at 2:11 PM
  • Sasol Ltd. agreed to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa for as much as 5.1 billion rand ($361 million) in order to pay down debt.
  • The buying consortium includes Reatile Group Pty Ltd., a Black-owned South African investment company focused on energy and petrochemicals, along with the IDEAS Fund, an infrastructure equity fund managed by African Infrastructure Investment Managers Ltd..
  • Old Mutual was cited as a frontrunner for the stake back in October, as was France’s Total SE, with the suggestion being that Sasol would divest its entire 50% interest.