JOHANNESBURG, South Africa, March 2, 2011 /PRNewswire/ -- Shareholders of Sasol are referred to the SENS announcement released on 20 December 2010 regarding the proposed acquisition by Sasol of a 50% strategic interest in the high quality Farrell Creek Assets from Talisman Energy Inc. for a total purchase consideration of CAD$1 050 million (ZAR7 549 million at the closing CAD/ZAR exchange rate of 7,19 on 28 February 2011) with effect from 1 January 2011 (the "Transaction").
The Transaction was subject to various suspensive conditions referred to in the announcement released on SENS on 20 December 2010. Sasol shareholders are advised that all the suspensive conditions to the Transaction have been fulfilled and that the Transaction closed on 1 March 2011 ("the closing date").The final aggregate consideration amounts to CAD$1 025 million (ZAR7 369 million at the closing CAD/ZAR exchange rate of 7,
19 on 28 February 2011) and comprises an initial purchase price for the Farrell Creek Assets of CAD$237 million (ZAR1 704 million), which was paid in cash on the closing date, and CAD$788 million (ZAR5 665 million) in the form of a commitment to fund 75% of Talisman's 50% portion of certain future development costs to further develop the Farrell Creek Assets until such time that the aggregate purchase consideration has been paid in full.
Sasol Investor Relations
Tel.: +27 (0)11 441 3321 / 3563
Exclusive Financial advisor
Morgan Stanley & Co
Fraser, Milner & Casgrain
Deutsche Securities (SA) (Pty) Limited
Morgan Stanley & Co and its affiliates are acting as independent financial advisor to Sasol Limited and no one else in connection with the transaction and will not be responsible to anyone other than Sasol Limited for providing the protections afforded to the clients of Morgan Stanley & Co nor for providing advice in relation to the transaction, the contents of this announcement or any other matter referred to herein.
SOURCE Sasol Limited