Massy Holdings to Acquire Air Liquide Trinidad and Tobago Limited
- Massy Holdings Ltd has advised that on November 28th, 2022, its Board of Directors approved the acquisition of Air Liquide, Trinidad and Tobago Limited by Massy Gas Products Holdings Ltd. (MGPHL), a subsidiary of the Company.
- MGPHL entered into a Share Purchase Agreement with Air Liquide International S.A. to purchase 100% of the share capital of Air Liquide for between US$51.5 Million and US$58 Million; with the higher-end range related to an earnout that is payable annually based on additional value considerations being met. Completion of the transaction remains subject to regulatory approval by the Trinidad and Tobago Fair Trading Commission.
- The acquisition of Air Liquide, a manufacturer and supplier of industrial gases (oxygen, nitrogen and argon), is aligned with MGPHL’s strategy to grow its core business.
- The acquisition will represent an 11.4% increase in the Massy Group’s assets and will contribute to an approximate 3% increase in the Group’s profit. For the Gas Products Portfolio, the acquisition is expected to increase its profit before tax by about 14%.