Diversified conglomerate Wesfarmers has sold off its 40 per cent stake in industrial gas producer Air Liquide Western Australia to its national counterpart, Air Liquide Australia, for a profit of $95 million.
ALWA was established in 1965 as a joint venture between Air Liquide and Wesfarmers to provide industrial and medical gases as well as gas equipment and welding products to the Western Australian market.
ALWA’s air separation unit in Kwinana is included in the sale.
Wesfarmers said the sale remained subject to a number of conditions which it expected to be satisfied in coming weeks.
At 11:00AM, WST, Wesfarmers shares were up half a per cent, trading at $41.31.