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Sasol Sells 10% Stake to Black South Africans in Empowerment Deal

03-25-2008

South Africa fuels group Sasol will sell a 10% stake to black investors in South Africa's biggest black economic empowerment transaction to date worth 25.9 billion rand ($3.19 billion), the group said today.

The deal will involve 63.1 million shares and will broaden and transform the group's shareholder base to include its black employees and black empowerment investment vehicles, it said.

The transaction will also see the group launching a public investment scheme for black South Africans in which it will issue 18.9 million ordinary shares.