JOHANNESBURG, May 26, 2025 /PRNewswire/ -- On 20 June 2024, Sasol announced that the High Court of South Africa handed down judgment on 18 June 2024 in favour of Sasol Oil (Pty) Ltd (Sasol Oil) and TotalEnergies Marketing South Africa (Pty) Ltd against Transnet SOC Limited (Transnet). In terms of that judgment, Transnet was ordered to make payment to Sasol Oil of the amount of R3.9 billion plus interest.
Transnet has sought leave to appeal that judgment to the Supreme Court of Appeal (SCA). The application for leave to appeal is currently the subject of a reconsideration application before the SCA. The effect of this reconsideration application is that the High Court judgment order, and thus the associated payment by Transnet, remains suspended.
In August 2024, the High Court heard an action instituted by Transnet against Sasol Oil to recover an amount of R855 million (exclusive of VAT plus interest) from Sasol Oil. Judgment in this matter is still pending.
On 18 May 2025, Sasol Oil and Transnet signed an agreement to settle their respective disputes, which became effective on 23 May 2025 having met all suspensive conditions. In terms of this settlement, Transnet will make a net payment to Sasol Oil of R4.3 billion (exclusive of VAT) on or before 30 June 2025 in full and final settlement of all these disputes.
For further information, please contact:
Sasol Investor Relations,
Tiffany Sydow, VP Investor Relations
Telephone: +27 (0) 71 673 1929
[email protected]
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SOURCE Sasol Limited