Sasol in talks to potentially divest from its operations in Iran

01-Dec-11
South African petrochemicals group Sasol has entered into talks to potentially divest its stake in Arya Sasol Polymers Company in Iran, a move already flagged in October, as per Reuters. Sasol has a 50% stake in Arya Sasol in joint venture with Pars Petrochemical Company of Iran. The venture produces ethylene and polyethylene. Sasol had said in a filing to the U.S Securities and Exchange Commission last month that there was a possible risk that sanctions may be imposed on the company by the United States, the European Union and the United Nations as a result of its investments in Iran. This would stem from sanctions on Iran over its nuclear program, which Tehran says is for peaceful purposes but the United States and its allies fear is aimed at producing nuclear weapons.
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