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Sasol Ltd's Subsidiary Disposes Of Investment In Iranian Joint Venture Arya Sasol Polymer Company

Monday, 19 Aug 2013 03:53am EDT 

Sasol Ltd's wholly owned subsidiary Sasol Investment Company (Pty) Limited, 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 is the indirect owner of a 50% interest in Arya. The fair value of Sasol's investment in Arya was written down to R2,3 billion. This was based on the 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. 

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-0.64 -1.75%
29 Jun 2015