Duo agree to buy China gas assets


Shanghai Baosteel Gases Limited (Baosteel Gases), China’s leading industrial gas producer, and an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, today announced the formation of a strategic partnership, to jointly explore and develop projects in the industrial gas field.

Furthermore, under the strategic partnership, the two parties have reached agreement with Henan Jinkai Chemical Investment Holding Group to acquire its industrial gas assets for RMB3bn ($489m).

Established in 2008, Baosteel Gases is a wholly owned subsidiary of Baosteel Metal. Thanks to its experienced and expert management team, high professional standard and pioneering spirit, Baosteel Gases has quickly established its industry leadership and has become one of the key development areas among the diversified businesses of Baosteel Group, China’s leading steel conglomerate.

Baosteel Gases cover a variety of areas in industrial gases, synthetic gases, packaged gases and new energy, operating through more than 10 subsidiaries in China’s Eastern, Northwest and Southern regions. Backed by resources of Baosteel Group and robust efforts of the management team, Baosteel Gases has built a strong set of core competitive advantages.

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