Air Liquide has signed a binding agreement with Macquarie Asia-Pacific Infrastructure Fund 2 to buy leading South Korean industrial gas company DIG Airgas for KW4.6trn ($3.3bn).

Confirmation of the deal, which is expected to close in the first semester of 2026, comes after the French industrial gases major was shortlisted for the final bidding round last month.

Air Liquide said the acquisition “substantially strengthens” its market position in South Korea, which is the sixth largest manufacturing country by GDP and fourth largest industrial gas market.

François Jackow, CEO of Air Liquide, said the deal demonstrates its ability to invest strategically for profitable growth in Asia – particularly in the fast-growing electronics sector – and cited three key reasons for the purchase.

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