Sasol Is Selling 16 Air Separation Units in Secunda to Air Liquide
July 29 2020 - 2:05AM
Dow Jones News
By Ian Walker
Sasol Ltd. Wednesday said it has agreed to sell 16 air
separation units in Secunda to Air Liquide SA for 8.5 billion South
African Rand ($514.3 million).
The South Africa-based petrochemical and energy company said the
sale is part of its divestment program announced in March, which is
targeting over $2 billion of asset sales. The disposal is
conditional upon further due diligence as well as other regulatory
approvals.
The parties are planning for final agreements by mid-August and
hope to complete the deal by the end of this year.
The air separation units provide oxygen for Sasol's fuels and
chemical production site in the region, as well as producing
various gases.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 29, 2020 01:50 ET (05:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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