South Africa
Sasol's R557m legal, advisory bill─── 12:19 Thu, 17 Dec 2020
The forced sale by Sasol, of a 50% stake in its newly completed Lake Charles Chemicals Project base chemicals plant in the US, has attracted transaction expenses of over half a billion rand.
Four entities, Deloitte, Bank of America Securities, Latham & Watkins LLP and Centerview will be paid in excess of 80% of these fees.
This is according to the circular published ahead of the end-November shareholder vote on the sale.
The petrochemicals giant was forced into the sale as part of its efforts to manage its stretched finances.
LyondellBasell, a global chemicals and plastics producer, will purchase 50% of the Lake Charles base chemicals plant for $2 billion.
Moneyweb
