Air Liquide (AIQUY.PK) said it is pursuing the development of its activities in the home healthcare sector and announced the beginning of exclusive negotiations with a view to acquiring 70.49% of LVL Médical Groupe SA's share capital from the controlling shareholders at a price of 30.89 euros per share. The transaction should be completed during the fourth quarter of 2012.
Air Liquide noted that the transaction, once finalized, would enable it to gain control of LVL Médical's French activities, for an enterprise value of 316 million euros. The company added that the acquisition of a controlling stake in LVL Médical will be followed by a simplified public tender offer on the remaining LVL Médical share and subscription warrants, in accordance with applicable rules. Before acquisition by Air Liquide, LVL Médical's German activities will be acquired by the Lavorel Family, the majority shareholder.
Air Liquide plans to pursue LVL Médical's development by favouring the continuity of the company's management led by Mr Jean-Claude Lavorel.
Pascal Vinet, vice president, Healthcare Global Operations and member of the Group Executive Committee, commented, "LVL Médical is one of the key players in home healthcare in France, recognized for its expertise, the professionalism of its teams and its service quality. This acquisition is in line with Air Liquide's external growth strategy in healthcare. Health is one of the growth drivers of the Group."
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