15 September 2015
DETAILS
has signed an agreement to acquire
Yara International ASA’s (Yara) European CO2 business.
The proposed transaction also includes
Praxair’s acquisition of Yara’s remaining 34% stake
in the Yara Praxair Holding AS industrial gas joint venture
in Scandinavia.
The investment for both transactions
is expected to be 312 million euros.
In 2014, Yara’s European CO2 business sold approximately
* 850,000 metric tons of liquid CO2 and
* 50,000 metric tons of dry ice primarily to
the food and beverage industries, and
generated revenues of 112 million euros.
The business operates
* five CO2 liquefaction plants,
* three large CO2 shipping vessels,
* seven shipping terminals and
* six dry ice production facilities
across the UK, Ireland, Scandinavia, Northern Europe
and Italy.
The Yara Praxair Holding AS joint venture,
operating in Scandinavia and formed in 2007,
had 2014 revenues of 145 million euros.
The proposed transaction is conditional
upon completion of definitive agreements,
obtaining necessary regulatory approvals and clearances,
and other customary conditions.
The transaction is currently expected to close
during the first quarter of 2016.
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