![]() ![]() Messer, which increased its revenue by 7 percent to €1.2bn in 2017, will essentially double in size as a result of the deal, 14 years after it left the US market after selling its US operations to Air Liquide in a restructuring. Messer will transfer its western European operations, which includes businesses in Benelux, Denmark, France, Germany, Portugal, Spain and Switzerland, and which accounted for €334m of the company’s €1.23bn group sales, into the new entity. The assets being acquired have around 5100 employees, and generated revenues of $1.7bn and earnings before interest, tax, depreciation and amortisation (EBITDA) in excess of $360m in 2017. The joint venture is believed to have beaten a number of rivals, including financial investor Carlyle which was considered the front runner for Linde’s assets. The businesses to be sold in the deal include almost all of Linde’s US bulk business, as well as the company’s operations in Brazil, Canada and Colombia. The joint venture will be known as MG Industries and will operate under the Messer brand. The deal should allow Linde to secure antitrust clearance for its planned $87bn merger of equals with US rival Praxair. A joint venture between German industrial gas supplier Messer and private equity group CVC has agreed to acquire the majority of Linde AG’s gases business in North America and certain business activities in South America for around $3.3bn. ![]()
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