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People & Business :: Companies

Air Liquide Scoops Up Lurgi

1:36 PM MDT | July 25, 2007 | Natasha Alperowicz

Air Liquide announced last month that it has agreed to purchase Lurgi and its polyester plant contractor subsidiary Lurgi Zimmer from GEA Group (Bochum, Germany) for €200 million ($270.3 million) (CW, April 25, p. 7). The acquisition is based on an equity value of approximately €550 million, including the assumption of Lurgi’s cash position, pensions, and other liabilities. The deal is due to close in the second quarter. Air Liquide says it may divest Lurgi Zimmer, as it is a noncore business. The transaction will end a period of uncertainty for...

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