Wesfarmers (ASX:WES) agreed to sell its Coregas business to a subsidiary of Tokyo Stock Exchange-listed Nippon Sanso for AU$770 million, according to a Friday filing with the Australian bourse.

The company anticipates a pre-tax profit of roughly AU$230 million to AU$260 million on the sale, subject to completion adjustments, the filing said.

The sale is subject to approvals from the Australian Competition and Consumer Commission and Foreign Investment Review Board and is expected to be completed by mid-calendar 2025, according to the filing.

Wesfarmers shares fell nearly 2% in morning trade Friday.