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Sasol divests stake in Iran petrochemical joint venture

7:17 AM MDT | August 23, 2013 | —Deepti Ramesh and Ian Young

Sasol says that its wholly owned Sasol Investment subsidiary entered into a definitive sale and share purchase agreement on 16 August, pursuant to which Main Street 1095 Ltd., a South African subsidiary of an Iranian investor, acquired 100% of the shares of SPI International (SPII). SPII is the indirect owner of a 50% interest in Arya Sasol Polymer, Sasol’s former joint venture in Iran with Pars Petrochemical (Assaluyeh, Iran), a subsidiary of National Petrochemical Co. (Tehran). Sasol announced in 2011 that it was in discussions on a possible divestment of...

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