Just after Strategic Fuel Fund, which is owned by the Government of South Africa, announced its interest in acquiring Chevron South Africa’s assets, which include a refinery and filling station, Sasol, a fuel producer, has revealed that it is “assessing the opportunity” of making a bid too.
In a measured response, Sasol spokesman, Alex Anderson, said: “Sasol is working with Chevron and advisers in this regard.”
As part of its divestment programme announced in 2014, Chevron is selling 75% of its stake in its South African subsidiary. The American fuel giant is doing away with non-core operations worldwide so that to focus in establishments in countries where it has production facilities.
Analysts contacted by African Mining Brief online estimate that Chevron’s assets have a price tag of about $1bn.