Sasol to Sell $2 Billion Chemicals Stake to LyondellBasell

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Sasol Ltd., the South African chemicals and fuel manufacturer, agreed to sell a $2 billion stake in its U.S. base-chemicals business to LyondellBasell Industries NV to help pay down debt.

The unit will become a joint venture between the Johannesburg-based company and U.S. chemicals giant, Sasol said in a statement Friday. The deal is subject to a vote by shareholders and is expected to be completed this year.

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