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Article: Sasol and Petronas Agree on Principles to Merge Their South African Liquid Fuels Businesses.
- Article from:
- Business Wire
- Article date:
- February 19, 2004
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Energy Editors/Business Editors
JOHANNESBURG, South Africa--(BUSINESS WIRE)--Feb. 19, 2004
Sasol (JSE:SOL)(NYSE:SSL) and Petroliam Nasional Berhad (Petronas) on Wednesday agreed on principles regarding a merger of equals between Sasol's Liquid Fuels Business and Engen Limited (Engen) to create a leading South African liquid fuels business.
Commenting on the merger, Pieter Cox, deputy chairman and chief executive of Sasol, said: "This transaction will create a South African national champion in the liquid fuels business. Together with Petronas and our respective BEE partners we look forward to the joint venture's development and success."