Issue Date: March 31, 2008
Sasol Offers Stock, Creates Foundation
Sasol, the South African chemicals and fuels company, has launched what it says is the country's largest black economic empowerment (BEE) ownership transaction. The offering will make 10% of the company's stock—63 million shares worth about $3.25 billion—available at a discount to the black public, selected BEE groups, Sasol employees (60% of whom are black), and the new Sasol Inzalo Foundation, which will hold 1.5% of Sasol's total shares. The company is setting up the foundation to facilitate development of skills in mathematics, science, and technology.
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