Energy and chemicals group Sasol has formally initiated a process to sell five of its regional fertiliser blending plants as part of the restructuring exercise triggered by an agreement with the Competition Commission in July.

Sasol Nitro, which is a unit of Sasol Chemical Industries (SCI), said on Monday that it would entertain expressions of interest for its Bellville, Durban, Kimberley and Endicott blending plants until 12:00 on September 13.

It had already selected a potential buyer for the Potchefstroom plant. However, should this sale prove unsuccessful, the company could pursue other options.

"The company is now embarking on a process to formally invite interested parties to submit proposals for the purchase of one or more of the blending plants," Sasol Nitro said in a statement.

Bids would be accepted for individual plants, as well as for a combination of the assets.

However, bidders can have no association with SCI or the larger Sasol group, should have black economic-economic (BEE) credentials, would be subject to Competition Commission scrutiny, and would have to take on all environmental liabilities.

Further, tenderers must show that they plan to sustain the businesses as going concerns and have operational and marketing experience in similar industries. Should such bids fail to materialise, Sasol Nitro would initiate a separate process to dispose of the assets.

Short-listed bidders would be invited to perform an on-site due diligence exercise and would be given access to plant specific information in a data room.

MD Marius Brand indicated that significant interest had already been shown and stressed that the disinvestments would be implemented in a way that was beneficial to the South African fertiliser and agriculture industries.

Following the disposal process, Sasol Nitro would focus on upstream fertiliser activities at its Secunda operations. It would continue with the production of limestone ammonium nitrate, ammonium sulphate and a range of ammonium nitrate and ammonium sulphate-based liquid and granular NPK fertiliser blends.