Prax Group buys Total's 36.36% stake in Sasolburg's Natref refinery
Petrochemical

Prax Group buys Total's 36.36% stake in Sasolburg's Natref refinery

Sasol will continue to invest in Natref to meet the Clean Fuels 2 regulations

  • By ICN Bureau | December 03, 2023

Sasol Oil, a subsidiary of Sasol Limited and the majority shareholder in the joint venture inland Natref Refinery, has been formally notified by its joint venture partner TotalEnergies Marketing South Africa (TMSA) that it has signed a Sales and Purchase Agreement (SPA) with The Prax Group to acquire its 36.36% minority interest in the refinery.

The transaction is subject to customary conditions including obtaining the applicable regulatory approvals, consents, and other authorisations.

Natref will continue to operate as is while the transaction progresses through the various regulatory approvals and closing conditions. Sasol remains committed to safe and reliable operations at Natref and will continue to invest to meet the Clean Fuels 2 regulations.


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