Leading Oxygen And Nitrogen Gas Manufacturer Messer Approaches Completion Of GIC Stake Sale, Valued At Over €12 Billion
Messer's GIC Stake Sale To Generate €12 Billion
The industrial gas maker, Messer SE, has received over €12 billion ($12.9 billion) in investment from GIC Pte, including debt. This is the second major deal for the century-old, family-owned German company.
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The news of the deal was announced by Messer, mentioning the Singaporean sovereign wealth fund. The deal's details have not been made public; however, sources linked to the company stated that GIC is investing about €2 billion in Messer for a less than 25% share.
Messer will be redirecting the incoming funds to buy out full ownership rights of Messer Industries GmbH, its joint venture alongside CVC Capital Partners, a private equity firm. Buying CVC will set Messer Industry's value at around €8 billion. Both groups settled on the venture in 2018 and bought Linde's North and South American assets in order to ensure the antitrust approval for its merger with Praxair Inc., valued at $46 billion. Messer Industries has assets in Europe's western region as well.
About Messer
Messer is a leading company in technology and applications with over 120 years of industrial and applications expertise that works towards meeting the client needs in end-user industries like medical, food, chemical, and electronics. They offer reliable and safe production and delivery of medical, industrial and speciality gases.
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According to the Procurement Resource article, Messer SE, an industrial producer of gas, has gotten over €12 billion ($12.9 billion) in investment from GIC Pte for buying a less than 25 percent stake in the century-old family business.
The German company will allocate the funds from the recent deal to buy out full ownership rights of Messer Industries GmbH, its joint venture alongside CVC Capital Partners, a private equity firm. Further details about the company and the latest deal have been mentioned in the article.
