IHS Chemical Week

People & Business :: Companies

Air Liquide Acquires Lurgi and Zimmer

2:00 PM MDT | July 25, 2007 | Natasha Alperowicz

Air Liquide says it has agreed to buy engineering contractor Lurgi, and Lurgi’s polyester plant contracting subsidiary Lurgi Zimmer, from GEA Group (Bochum, Germany) for €200 million ($270.3 million). The acquisition is based on an equity value of approximately €550 million, including the assumption of Lurgi’s cash position, as well as pension and other liabilities, the companies say. The deal is expected to close in the second quarter, following approvals by the European Commission and the U.S. Federal Trade Commission, says John Glen, Air...

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