In a SENS statement on Monday 17 August, the company said the loss stemmed from “the combined effects of unprecedented low oil prices, destruction of demand for products and impairments of R111.6-billion”. With Sasol, nothing is ever on a small scale. By way of comparison, that loss exceeds South Africa’s recent IMF loan and is about twice the size of Lesotho’s economy.
That is a good sign and indicates that there is investor appetite for Sasol assets. Of course, bargain hunters will also be looking for fire sales.
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