Wesfarmers to sell Coregas to Japan's Nippon Sanso for $480 mln (updated)

NIPPON SANSO HOLDINGS

19/12/2024 22:59

(Updates with details from paragraph 2 onward)
       Dec 20 (Reuters) - Australian conglomerate Wesfarmers
 WES.AX  on Friday said it would sell its industrial gas supply
arm, Coregas, to Japanese multinational firm Nippon Sanso
 4091.T  for A$770 million ($480.33 million).
    Wesfarmers expects to report a pre-tax profit of around
A$230 million to A$260 million from the deal.
    Coregas distributes industrial, medical and specialty gases
in cylinders and offers a wide range of bulk gases for
medium-to-large users across Australia and New Zealand.
    The deal is expected to be completed by mid-2025 and is
subject to regulatory approvals.

    
($1 = 1.6031 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Vijay
Kishore)
 ((Rishav.Chatterjee@thomsonreuters.com;))