AlwaysFree: Stakes In Mozambique Pipeline And Power Plant Sold By Sasol

Sasol has appointed advisers to sell its stakes in a power plant in Mozambique and a gas pipeline running from the country into South Africa. Sasol is trying to shed assets to pay off its debt pile and avoid a rights issue of up to $2 billion, but has not previously flagged the Mozambique assets as up for sale.

It has appointed South Africa’s Nedbank to manage the sale of its 50 percent stake in the Republic of Mozambique Pipeline Company (ROMPCO), the joint venture operating the pipeline that runs 865 kilometres from Mozambique into South Africa.

The sources said the company had also appointed Deloitte to sell its 49 percent stake in Central Termica de Ressano Garcia (CTRG).  Sasol said last week it would cut jobs and exit West African oil operations.

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