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Sasol/Merisol merger gets thumbs up

Dec 19 2012 19:07
I-Net Bridge
Johannesburg – The Competition Tribunal has approved a proposed merger between Sasol Holdings USA and Merisol Merichem Company.

Sasol USA is ultimately controlled by South African synthetic fuels group Sasol [JSE:SOL] which is listed on the Johannesburg Stock Exchange and the New York Stock Exchange.

In this transaction Merisol Merichem Company is selling various interests it has in the Merisol joint venture to Sasol USA. The Merisol joint venture is currently jointly controlled by Sasol and Merisol Merichem Company. After the merger the Merisol joint venture will become a wholly owned subsidiary of Sasol.

Sasol is an energy and chemicals group of companies which add value to coal‚ oil and gas reserves using feedstocks to make liquid fuel‚ fuel components and chemicals through Sasol’s unique proprietary technologies. The Merisol joint venture manufactures‚ markets and sells phenolic products. These are organic compounds used as input materials in a wide range of chemical intermediates and finished products including resins‚ wire enamel solvents and antioxidants.

The Competition Commission considered the merger and concluded that it was unlikely to cause a significant lessening of competition. It therefore recommended that the Tribunal approve the transaction without conditions.

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