On Monday, Sasol confirmed that it completed the sale of its Secunda air separation business to Air Liquide after the deal received approval from the Competition Tribunal earlier this month.
The Tribunal placed several conditions on the approval, including the joint procurement of renewable power of up to 900 megawatts and decarbonisation investments by Air Liquide, as well as a commitment to preserving jobs and support to local small enterprises.
Sasol in July 2020 said it had entered into an agreement to sell 16 air separation units located in Secunda to the French multinational supplier of industrial gases, Air Liquide Large Industries South Africa, for R8.5 billion.
In April, Sasol announced that both companies will jointly procure 900 megawatts of renewable energy by 2030, with 500 MW allocated to Sasol and 400 MW to Air Liquide.
The air separation units, which have a capacity of up to 42 000 tons per day, provide oxygen for Sasol’s fuels and chemical production processes.
The company said it would use part of the proceeds to repay some of its debt burden of more than R120 billion.
Sasol has been selling some of its assets to help settle its debt, and recently announced that it would also sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa for as much as R5.1 billion.