Sasol Ltd., the world's largest maker of fuel from coal, abandoned a plan to sell about ZAR 13 billion (USD 950 million) of shares to meet its obligation to repay debt owed by a black investor group.
A decline in the company's stock since the mid-2014 slump in crude prices precluded payouts to more than 250,000 black South Africans who participated in the Inzalo transaction in 2008, forcing Sasol to settle the more than 12 billion rand they owe.
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