Buren advises the American gas producer Praxair Inc. on the divestment of its European (industrial gases) business, valued at about 5 billion euros ($6 billion), to Japanese Taiyo Nippon Sanso Corporation, a subsidiary of Mitsubishi Chemical. The divestment is part of efforts to win regulatory approval for its megamerger with Germany’s Linde which would create the world’s largest industrial-gas supplier.
Taiyo Nippon Sanso Corporation stated that this acquisition is a unique opportunity to enter the European market. Praxair and Linde continue to work with the relevant antitrust authorities with the objective of closing the merger during the second half of 2018.
Buren prepared the Dutch part of the vendors due diligence report and rendered various M&A and transactional services.
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