Shearman & Sterling advised Sasol Limited (Sasol) on its Sale Securities Purchase Agreement to sell its full shareholding in Central Termica De Ressano Garcia (CTRG) and other shareholder claims that Sasol or its affiliates hold in CTRG.
The sale was made to Azura Power Limited, a private limited company incorporated in Mauritius which is an owner and developer of base load power plants in Africa, for a purchase price of approximately US $145 million. Completion of the transaction is subject to, amongst other things, obtaining regulatory approvals and other conditions.
Sasol is a global integrated chemicals and energy company based in South Africa and operating in 30 countries. Sasol uses its expertise and selected technologies to safely and sustainably source, manufacture and market chemical and energy products globally. CTRG is the owner and operator of a 175MW gas-to-power plant at Ressano Garcia in Mozambique.
The Shearman & Sterling team below also included trainee Olivia Roxborough.