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Why Sasol Stock Is Rallying Today

TheMotleyFool

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Shares of Sasol (NYSE: SSL) had surged more than 11% by 1:45 p.m. EST on Tuesday. Fueling the energy and chemical company's stock was the sale of its stake in Gemini HDPE.

Sasol's North American chemicals subsidiary has agreed to sell its 50% membership interest in Gemini HPDE to INEOS, a leading global chemical producer. The company will receive $404 million for the stake. The Gemini plant, in La Porte, Texas, produces and sells bimodal high-density polyethylene (HDPE), used for gas and water distribution pipes.

Image source: Getty Images.

Source Fool.com

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