As planned, South African oil and petrochemicals group Sasol (Johannesburg; www.sasol.com) has completed the sale of its joint venture stake in US-based HDPE manufacturer Gemini to venture partner Ineos Olefins and Polymers USA (see Plasteurope.com of 01.12.2020). The subsidiary of UK-based Ineos, which has been operating the venture’s US “Battleground Manufacturing Complex” in La Porte, Texas, will pay USD 404m (around EUR 340m) for its partner’s stake, according to the companies. Sasol plans to use the money to lower its debt.

Paying down the mountain of debt was also the reason for various other sales of Sasol companies and operations. The most extensive transaction is likely to have been the transfer of half of the new, large ethane cracker at the US site in Lake Charles, Louisiana, as well as downstream polyethylene plants to LyondellBasell (Houston, Texas / USA; www.lyondellbasell.com – see Plasteurope.com of 15.12.2020).