Air Products Sells Airgas to Blackstone for $14.2B
Ticker: APD · Form: 8-K · Filed: Dec 5, 2024 · CIK: 2969
Sentiment: neutral
Topics: divestiture, acquisition, private-equity
TL;DR
APD selling Airgas to Blackstone for $14.2B, closing H1 2025.
AI Summary
Air Products & Chemicals, Inc. announced on December 5, 2024, that it has entered into a definitive agreement to sell its former subsidiary, Airgas, Inc., to an affiliate of Blackstone Inc. for approximately $14.2 billion. The transaction is expected to close in the first half of 2025.
Why It Matters
This significant divestiture allows Air Products to focus on its core industrial gases business and potentially return capital to shareholders, while Blackstone gains a substantial industrial gas distribution platform.
Risk Assessment
Risk Level: medium — The sale is subject to customary closing conditions, and the integration of Airgas under new ownership could present operational challenges.
Key Numbers
- $14.2B — Sale Price (Amount Air Products will receive for selling Airgas.)
- H1 2025 — Closing Period (Expected timeframe for the transaction to be finalized.)
Key Players & Entities
- Air Products & Chemicals, Inc. (company) — Seller
- Airgas, Inc. (company) — Subsidiary being sold
- Blackstone Inc. (company) — Buyer
- $14.2 billion (dollar_amount) — Sale price
FAQ
What is the primary reason for Air Products selling Airgas?
The filing indicates the sale is part of Air Products' strategy to focus on its core industrial gases business.
Who is the buyer of Airgas?
An affiliate of Blackstone Inc. is acquiring Airgas.
What is the total value of the transaction?
The definitive agreement is for approximately $14.2 billion.
When is the sale expected to be completed?
The transaction is anticipated to close in the first half of 2025.
What is the filing date of this 8-K?
This 8-K was filed on December 5, 2024, reporting an event from December 4, 2024.
Filing Stats: 581 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-12-05 06:10:54
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 per share APD New York Stock Exchan
Filing Documents
- d843347d8k.htm (8-K) — 30KB
- 0001193125-24-271060.txt ( ) — 199KB
- apd-20241204.xsd (EX-101.SCH) — 5KB
- apd-20241204_def.xml (EX-101.DEF) — 14KB
- apd-20241204_lab.xml (EX-101.LAB) — 24KB
- apd-20241204_pre.xml (EX-101.PRE) — 15KB
- d843347d8k_htm.xml (XML) — 9KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Air Products and Chemicals, Inc. (Registrant) Date: December 5, 2024 By: /s/ Sean D. Major Sean D. Major Executive Vice President, General Counsel and Secretary