Sasol Agrees Sale of Sodium Cyanide Business

Johannesburg, South Africa – Sasol South Africa has concluded an agreement to sell its sodium cyanide business to a South African, B-BBEE empowered subsidiary of Draslovka Holding a.s (“Draslovka”), a Czech-based company specialising in cyanide production, for a consideration of R1,46 billion, (subject to customary closing adjustments). The transaction is part of Sasol´s ongoing, strategy-aligned, asset divestment programme.

“Sasol has made progress on its expedited review of the business to consider how it can be most effectively positioned to be sustainable in a low oil price environment. Consistent with this approach, the expanded asset disposal process has yielded good interest in relation to a number of assets, despite the macro environment uncertainty,” said Sasol President and CEO, Fleetwood Grobler.

Draslovka is a Czech-based, privately-owned company, specialising in the manufacture, distribution, and application of specialty chemicals globally, particularly cyanide-based substances. The company has more than 100 years of experience in cyanide production and cyanide chemistry for use in synthesis, mining, and industrial and agricultural applications. It has operations in the Czech Republic, South Africa, Australia, New Zealand, and India.

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Source: PetroleumAfrica

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