By Anthony O. Goriainoff 



   Sasol South Africa Ltd. will sell its air separation units business to Air Liquide Large Industries South Africa Proprietary Ltd. for about 8.5 billion South African rand ($511.8 million), Sasol Ltd. said Thursday. 


  South Africa-based petrochemical and energy company Sasol Ltd. said its subsidiary signed an exclusive negotiation agreement for the sale of its 16 air separation units and associated business, which are located in Secunda, South Africa. 


  The company said that in addition to the sale agreement, Sasol will sell key utilities to Air Liquide to enable continuous gas production. 


  Sasol said the transaction--which will be settled in cash following satisfaction of the sale agreement's suspensive conditions-- is part of its expanded and accelerated divestment program first announced in March. 


  "The proceeds, net of associated tax obligations related to the transaction, will be utilized within the Sasol Group to facilitate repayment of near-term debt obligations," the company said. 


  Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com