[South Africa] Competition Tribunal approves sale of Sasol's16 air separation units to Air Liquide
16-06-2021 13:35:00 | by: Pie Kamau | hits: 1991 | Tags:

Sasol announced that the Competition Tribunal approved its sale of 16 air separation units (ASUs) to Air Liquide, concluding the final outstanding suspensive condition from the agreement.

The approval was received subject to various conditions relating to future ownership of the ASUs. These include joint procurement of renewable power up to 900 megawatts, decarbonisation investments by Air Liquide, ensuring that there’s no negative impact on employment and adhering to various commitments on Broad-Based Black Economic Empowerment. This is in addition to support for localisation and small, medium, micro and black owned enterprises.

”We are pleased to officially welcome Air Liquide as one of Sasol’s partners in Sasol’s decarbonisation journey,” said Fleetwood Grobler, President and CEO of Sasol. “This transaction is a significant contributor to us achieving our accelerated and expanded asset disposal programme targets, executed in line with our balance sheet, shareholder value and strategic objectives.”

In line with the terms of the agreement, the transaction will close within 10 business days with the total proceeds of the aggregate of R5,525 billion and EUR148,75 million (to be settled in US Dollars) settled at closing. Thereafter, Air Liquide will officially own and operate the 16 ASUs, which are located in Secunda, Mpumalanga.