Sasol in talks to hive off stake in Arya Sasol Polymer despite denial by Iran

28-Dec-12
Sasol Ltd. continues discussions with potential buyers of its stake in Arya Sasol Polymer Co., amid reports that an Iranian official denied the company plans to withdraw, as per Bloomberg. “We continue to engage with a number of interested parties who include business and government stakeholders,” Alex Anderson, a spokesman for Sasol. As per a statement, Sasol may classify its 50% stake in Arya as an asset held for sale. State-run Fars news agency reported that Sasol’s decision to cut investment in Iran because of sanctions against the country is a rumor, citing Abdol Hossein Bayat, head of the National Petrochemical Co. of Iran. Iran is being pressured by USA and European Union to curtail its nuclear program, which they say is aimed at developing an atomic weapon. Iran denies it is trying to make atomic weapons, saying its nuclear research is for civilian use.
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