Petroleum Africa
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Monday, August 19, 2013
South African firm, Sasol Investment Co. (Pty) Ltd., has cut ties with Iran after divesting in SPI International (Pty) Ltd. The Sasol subsidiary entered into a definitive sale and share purchase agreement pursuant to which Main Street 1095 (Pty) Ltd. for the acquisition of 100% of the shares of SPI International (indirect owner of a 50% interest in Arya).
The fair value of Sasol’s investment in Arya was written down to $223 million based on the company’s assessment. The company said, “As a result of this transaction, Sasol has no on-going investment in Iran.”
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