Praxair, Inc., has revealed this morning that it is to divest the majority of its businesses in Europe to Taiyo Nippon Sanso Corporation (TNSC), as it strives to secure antitrust approval in the region for its mega merger with Linde AG.
For Praxair and Linde, it represents another significant step forward in their proposed $70bn merger.
For TNSC, parent company of MATHESON, purchasing these European assets is another significant step forward too. The company has openly pursued a path of expansion beyond its domestic Japanese market for many years now and the acquisition is described as a ‘unique opportunity’.
Yujiro Ichihara, President and CEO of TNSC, explained, “With this acquisition, we are seizing a unique opportunity to enter the European market and establish a truly global footprint through the purchase of highly attractive assets in all the key geographies in the European Union.”
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