March 2004

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France's Air Liquide is acquiring a large part of the German industrial gas company Messer Griesheim - specifically, business activities in Germany, Britain and the United States - for about Euro 2.68 billion ($3.31 billion). The deal, announced in late January, is expected to be completed by the middle of this year. The French company said it expects that antitrust authorities will require some divestment. For its part, the family-owned Messer Industrie GmbH, Koenigstein near Frankfurt, said it plans to continue and expand the industrial gas business as the newly created Messer Group in both Western and Eastern Europe and also in China. Messer said it made the sale to finance its expansion after two other investors, Goldman Sachs and Allianz Capital Partners, agreed to sell their 67% stake in Messer Griesheim back to the Messer family.

Contact/Sources: Air Liquide website, http://www.airliquide.com/
Messer Industrie, www.messergroup.com