Taiyo Nippon Sanso Corporation (TNSC) has completed procedures for the acquisition of shares of Praxair’s European businesses.
TNSC concluded a share purchase agreement with Praxair on the 5th July, 2018, for acquiring the shares of Praxair’s European businesses. This includes the industrial gas businesses in Germany, Spain, Portugal, Italy, Norway, Denmark, Sweden, the Netherlands, Belgium; and the carbon dioxide (CO2) businessrs in the UK, Ireland, the Netherlands, and France; and helium-related businesses.
In accordance with the contract, TNSC acquired the businesses through its subsidiaries established in Europe, TNSC Euro-Holding S. L. U. (Spain) and TNSC Germany GmbH (Germany). The acquisition price was €4,913m, approximately ¥634.7bn and $5,559m.
The impact of the acquisition on the company’s consolidated earnings forecast for the fiscal year ending 31st March, 2019 is currently being examined and will be reported as soon as it has been ascertained.