Air Liquide ‘shortlisted’ as possible buyer of Korea’s DIG Airgas
Macquarie Asset Management (MAM) has shortlisted Brookfield Asset Management, Stonepeak, and Air Liquide for the final bidding round for South Korean industrial gas firm DIG Airgas, according to Reuters.
Binding bids for South Korea’s third largest industrial gas producer are expected to come in around the end of July or early August, the report states. MAM bought DIG Airgas for $1.85bn in 2019.
The Korean industrial gas firm offers modern large-scale air separation units and specialty gas manufacturing facilities in Banwol, Yangsan, Yeocheon, Cheongju, Daejeon, Gumi, Paju, and Ulsan. Gases are distributed by cold evaporator tanks, liquid gas containers and cylinders.
The French industrial gas major has been in the Korean market since 1996.
In addition to offering industrial gases and related services to major industries (such as petrochemicals and steel), it also supplies advanced molecules to the semiconductors sector and has a strong presence in the home healthcare sector.
In December 2021, MAM acquired Deokyang Co and Green Tech Chemical Co, which were later merged and renamed Approtium.
Approtium currently manages captured carbon dioxide through a supply contract with industrial players for whom liquefied CO2 is essential to their manufacturing processes.
It is also the largest independent hydrogen producer and supplier in Korea, managing approximately 60km of hydrogen pipeline infrastructure and a fleet of 250 tube trailers
