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

FILE PHOTO: People wearing protective face masks walk past the logo of Air Liquide at the company's headquarters in Paris, France, April 24, 2020. REUTERS/Charles Platiau

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