TOKYO (Reuters) - Taiyo Nippon Sanso Corp said on Thursday it had agreed to buy part of the European businesses of Praxair Inc for 5 billion euros ($5.9 billion) in a move aimed at boosting its global competitiveness.
The Japanese company said it would pay for the acquisition with cash on hand and loans and had no plans to conduct equity financing.
The acquisition depends on the planned Praxair-Linde deal going through as those two companies seek regulatory approval for their planned merger, Taiyo Nippon said in a statement.
($1 = 0.8551 euros)
(Reporting by Chris Gallagher and Chang-Ran Kim; Editing by Muralikumar Anantharaman)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app