Maduna,+Tshwarisano,+Sasol+seal+BEE+deal,+Reuters,+Business+Day

Business Day, Johannesburg, 30 June 2006
=Maduna’s Tshwarisano, Sasol seal BEE deal=


 * Reuters**

SASOL has sold 25% of its liquid fuels unit to black investors in a transaction worth R1,45bn, the company said on Friday.

Sasol said in a statement it had provided guarantees for the buyers’ funding requirements of R1,1bn and that Standard Bank would provide funding of just under R1,3bn.

The black investor group Tshwarisano is headed by leading black businessman Reuel Khoza and former Justice Minister Penuell Maduna.

Sasol has agreed not to recover the guarantee fees, which will significantly lower Tshwarisano’s cost of borrowing.

Tshwarisano was to be part of Sasol’s proposed liquid fuel joint venture with Petronas International, which was turned down by the competition authorities.


 * From: http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A225112**

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