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France's Air Liquide to buy biggest oxygen production site in world

Reuters
Air Liquide logo is seen in Paris

PARIS (Reuters) - Industrial gases company Air Liquide <AIRP.PA> said on Wednesday it had agreed to buy the biggest oxygen production site in the world, based in South Africa, as part of a deal with energy and chemicals company Sasol <SOLJ.J>.

Air Liquide said Sasol had signed an exclusive negotiation agreement for Air Liquide to buy the site, located in Secunda in South Africa.

The amount of the initial investment would be around 8.5 billion South African rand ($515.4 million), said Air Liquide.

(Reporting by Sudip Kar-Gupta; Editing by Tom Hogue)