Daesung Industrial Gases, one of the biggest players in South Korea’s industrial gases market, is reportedly the subject of an auction process that would see the Goldman Sachs Group relinquish its controlling stake in the company.
Producing oxygen and nitrogen, among other industrial and specialty gases, for a wide range of industries, Daesung Industrial Gases is the second-largest player in the South Korean market, just behind Tier One multinational Air Products.
According to published sales figures provided by local publication iGas Journal, the company recorded 2015 sales of $514m – up 23.4% over its sales the prior year (2014).
Such performance and market position has clearly made Daesung Industrial Gases an attractive asset. According to the Wall Street Journal, the Goldman Sachs Group could be set to cash in on this saleability, having sent out financial details of the operation to prospective buyers including private equity firms, South Korean conglomerates and global industrial gas competitors and invited bids for the entire company.
... to continue reading you must be subscribed
