The SA-based petrochemicals company‚ which remains bedeviled by price fixing allegations at home‚ said in a statement that the European General Court reduced the original fine of €318m to €149.98m
The fine in 2008 was paid in full in 2009. It was imposed for Sasol Wax's involvement in the European paraffin wax cartel.
At the time‚ the SA petrochemicals company was fingered as the leader of a nine-member "paraffin mafia" that conspired to fix prices of materials after gaining monopoly stakes in the wax business.
Sasol will account for the reduced fine as a post balance sheet adjusting event in its 2014 income statement.
Sasol had always viewed the fine as excessive‚ saying via its former Chief Executive Pat Davies that wax prices had actually increased once the activity stopped - and that it had not been aware of the cartel activities until the investigation commenced.
It had in 1995 become a co-shareholder in an existing wax business located in Hamburg‚ Germany‚ owned by the Schumann group. In July 2002‚ Sasol bought the remaining shares in the joint venture and became the sole shareholder of the business.
The European Commission has the right to appeal the decision.
Subsidiary Sasol Chemical Industries was fined an administrative penalty of R534m by the Competition Tribunal for excessive pricing in early June this year.
In addition to penalising Sasol Chemical Industries‚ the tribunal also determined a method for how the company should price these products in future.
In its ruling‚ the tribunal said the prices Sasol Chemical Industries charged Safripol - its only customer for purified propylene - was to Safripol's detriment and inhibited its ability to effectively compete with Sasol Chemical Industries.
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