South Africa

Motor fuels company Sasol Ltd sold a fifth of its mining unit to black investors for 1.9 billion rand. Ixia Coal Ltd., a venture comprising Women Investment Portfolio Holdings Ltd. and Mining Women Investments Ltd., will get 20 percent of Sasol Mining by buying new shares, Sasol said in a statement issued to the Johannesburg stock exchange. The government is pushing companies from banks to miners to sell stakes to black investors to compensate for discrimination under apartheid, which ended in 1994. Sasol said the deal with Ixia will increase black ownership of its mining unit to about 26 percent, which meets government requirements. (Bloomberg)