Finance / South Africa
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Sasol To Sell A 10% Stake In Record BEE Deal
March 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Just weeks after CFW wrote on Vodacom's (Black Economic Empowerment) BEE transaction (see 'Vodacom To Sell ZAR7.5bn In BEE Share Sale' 17 March 2008), Sasol has announced that it will follow suit by selling a 10% stake to black investors. The deal will be the largest BEE deal to date, worth US$3.2bn, twice the size of Impala Platinum Holdings' deal last year, and it far surpasses the value of Vodacom's offering. The share sale will equal 19.7% of its business, and each share will be sold at a discounted rate, 11% off March 18's closing price of ZAR410 (US$50.85).