L'Air Liquide S.A. (AIQUY.PK), Monday announced an agreement with PAG, an Asia-focused private equity firm, to acquire India-based NovaAir, an industrial gas producer and supplier. The financial terms of the deal were not disclosed.
With this deal, L'Air expects to strengthen its footprint in the Indian market, allowing it to better serve customers in the growing automotive, metals, electronics and healthcare sectors.
Emilie Mouren-Renouard, member of Air Liquide's Executive Committee, stated, "This acquisition represents a new step in our development in India. It demonstrates our long-term commitment to supporting the country's industrial and healthcare development."
On October 23, AIQUY closed trading at $39.92, down 0.55 percent on the OTC Markets.
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