The announcement is not the result of the latest Iranian frictions with Europe, however, as Sasol said back in October that it was thinking of divesting itself of everything it has in Iran.
In a filing with the US Securities and Exchange Commission (SEC), Sasol said in October that it might face action under the sanctions that existed then from the United States, European Union and United Nations.
“We previously announced our intention to review our investment in Iran and we have subsequently entered into discussions to potentially divest our stake in Arya Sasol Polymers Company,” Chief Financial Officer Christine Ramon said last week in a statement.
Sasol has a 50 percent stake in Arya Sasol, a joint investment with Pars Petrochemical Company of Iran.
The venture produces ethylene and polyethylene, which are use to produce plastics.