By Rhea Healy2016-07-27T10:50:00+01:00
American Air Liquide Holdings, Inc. has made an official application to divest its remaining facilities under necessary Federal Trade Commission (FTC) regulations following its $13.4bn takeover of Airgas.
The agency is now accepting public comments on an application from the Tier One corporation to sell its assets related to the production of bulk liquid CO2 to Aspen Air US. Corporation.
If successful, Aspen Air, a manufacturer and distributor of industrial gases based in Calgary, Canada, will acquire Air Liquide’s two outstanding CO2 and dry ice production facilities in Iowa.
The agency will decide whether to approve the proposed divestiture after expiration of a 30-day public comment period, beginning today and concluding on 25th August 2016.
The multi-billion-dollar merger, which became official on 23rd May 2016, created the biggest industrial gas group in the world whilst also establishing Air Liquide as the largest player in the North American market.
MATHESON Tri-Gas, Inc. a subsidiary of Japanese Tier One player Taiyo Nippon Sanso Corporation (TNSC) acquired 18 air separation units in 16 locations, two nitrous oxide production facilities, four liquid carbon dioxide production facilities in four states, including two dry ice production facilities, and three Airgas retail packaged welding gas stores in Alaska as part of Air Liquide’s extensive divestiture package.
In the wake of Air Liquide achieving the final go-ahead from the Federal Trade Commission (FTC), to acquire Airgas, gasworld Business Intelligence discusses the impact that the required divestitures will have on the US industrial gases market.
So the ink is finally dry on the biggest deal in the industrial gases business in years, with the key signatures committed to contracts and glasses raised across both sides of the Atlantic. It’s official: Air Liquide has acquired Airgas, at a total enterprise value of $13.4bn.
Air Liquide has successfully completed the first step in refinancing its acquisition of Airgas – a financial deal that cost the industrial gas giant $10.3bn, or $13.4bn including all debt assumed.
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