AIR LIQUIDE to acquire six subsidiaries from the German Group MESSER GRIESHEIM GmbH
The amount of the transaction is financed through the assumption of debts existing in the acquired companies, valued around 185 million euros. The subsidiaries, which are located in South Africa, Trinidad and Tobago, Brazil, Argentina, Egypt, South Korea have generated total revenue of about 100 million euros in 2000. Once interest expenses and projected synergy gains are factored in, this acquisition is expected to make a positive contribution to the Group’s net earnings by 2002. Air Liquide is in the process of seeking approvals of minority shareholders in some countries and those from competition authorities in South Africa, Brazil and South Korea, where such approval is necessary. The expected timing of such approval by authorities may differ from one country to another. Air Liquide is confident in the successful completion of these approvals.
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