Volume 86 Issue 13 | p. 16 | Concentrates
Issue Date: March 31, 2008

Sasol Offers Stock, Creates Foundation

Department: Business

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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