Sasol's headquarters in Rosebank, Johannesburg. Picture: FINANCIAL MAIL
The group said it had entered into an agreement with French multinational Air Liquide for the sale of its 16 air separation units located at Secunda, which constitute the biggest oxygen production site in the world. Air Liquide plans to modernise the facilities, and will supply the gases to Sasols’s operations under a long-term gas supply agreement. It is also expected that Air Liquide’s expertise would result in energy efficiency benefits, and a reduction in carbon dioxide emissions.
The group reported that it had long-term debt of R121.28bn at its half year to end-December, and said in March it was looking to preserve cash, sell off assets, and mulling a $2bn rights offer.