Sasol has fielded offers from CP Chem, LyondellBasell and Ineos for a large stake in its Lake Charles petrochemical complex, Chemweek reports.
It became clear in May the company was on the hunt for a buyer to secure a large stake in its $13 billion chemical complex in Lake Charles, with a goal of reaching a deal by June.
At the time, Sasol had hired Bank of America Corp. to help find a buyer for a minority stake in the troubled Lake Charles chemical project. Sasol previously indicated it was considering a partial sale of its U.S. base-chemicals business to avoid a last-resort rights issue.
The companies are now moving into a second round of bidding for the nearly completed complex, which could generate $1.68 billion for the South African company.
Sasol declined comment.
