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Sasol Starts Stake Sale in $13 Billion U.S. Chemical Plant (2)

April 21, 2020, 4:20 PM

Sasol Ltd. is looking to sell a large stake in its $13 billion chemical complex in the U.S., as the South African energy producer moves to shore up finances amid an historic rout in the oil market, according to people with knowledge of the matter.

The company has hired Bank of America Corp. to help find a buyer for a minority stake in the Lake Charles chemical project, said the people, who asked not to be identified because the matter is private. Sasol previously indicated it was considering a partial sale of its U.S. base-chemicals business to avoid a last-resort ...