THE COMPETITION Tribunal yesterday prohibited the merger involving the sale of Sasol South Africa’s sodium cyanide business to a Czech-based producer of sodium cyanide, Draslovka Holding, through its local subsidiary, Draslovka (South Africa).
Sasol announced in July 2021 that it had agreed to sell the business to the global cyanide expert for R1.46 billion, subject to regulatory approval. At the time, Sasol said the transaction was part of Sasol’s ongoing, strategy-aligned, asset divestment programme.
“Sasol has made progress on its expedited review of the business to consider how it can be most effectively positioned to be sustainable in a low oil price environment. Consistent with this approach, the expanded asset disposal process has yielded good interest in relation to a number of assets, despite the macro environment uncertainty,” Sasol…