After gasworld revealed that the relevant transaction documents were formally signed in April, Praxair Inc. has now officially completed its takeover of Yara International ASA’s European carbon dioxide (CO2) business.

Effective as of today, 2nd June 2016, the Tier One corporation has finalised the acquisition of Yara’s remaining 34% stake in the Yara Praxair Holding AS industrial gas joint venture.

Steve Angel, Chairman and CEO at Praxair, stressed, “These transactions are consistent with our business strategy to expand our presence in resilient end-markets such as food and beverage, as well as drive growth through synergistic acquisitions.”

The joint venture, which operates from Scandinavia, was formed in 2007 and generated revenues of approximately €112m ($125m) last year.

The business currently operates five CO2 liquefaction plants, three large CO2 shipping vessels, seven shipping terminals and six dry ice production facilities across the UK, Ireland, Scandinavia, Northern Europe and Italy.