India, Sept. 9 -- Sasol Ltd (SOL.JO), an integrated energy and chemical company, on Wednesday said it has agreed to sell its Nitrates business to Enaex Africa, as part of its portfolio optimisation strategy. Sasol will retain a 23% interest in the joint venture.
The business includes Sasol's primary ammonia conversion plants in Secunda and Sasolburg, which produce feedstock for the fertiliser and explosives markets. The transaction is expected to be value-accretive to Sasol's South African portfolio.
Enaex Africa, part of Enaex Group, provides explosives and blasting solutions to the mining industry. The proposed transaction builds on the companies' partnership that began in 2020.
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