Air Products (APD) to Acquire Majority Stake in Indura SA for $884M

Air Products (NYSE: APD) entered a definitive agreement to purchase a 67% majority stake in Indura S.A. for $884 million/CLP 451 billion. The transaction is expected to enhance Air Products' growth opportunities in the region and be accretive to Air Products earnings per share in fiscal 2013. It is expected to close by early July, subject to certain closing conditions.

Headquartered in Santiago, Chile, Indura is the largest independent industrial gas company in Latin America. This investment will position Air Products as the second largest industrial gas producer in Latin America, a region second in growth only to Asia. By taking a majority stake in Indura, Air Products will extend its Latin American presence to 12 countries, enabling the company to benefit from greater economies of scale and a large talent pool to service multinational customers in more markets.

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