Cuatrecasas acts for Taiyo Nippon Sanso on €5bn Praxair acquisition

Cuatrecasas advised Taiyo Nippon Sanso Corporation on the acquisition of a number of Praxair’s European businesses.

Taiyo Nippon Sanso was also advised by Greenberg Traurig on the deal, while industrial gas company Praxair was advised by McDermott Will & Emery.

The deal was valued at €5 billion in total, according to Mergermarket.

The assets to be sold include Praxair’s businesses in Spain, Portugal, Belgium, Denmark, France, Germany, Ireland, Italy, the Netherlands, Norway, Sweden and the UK. The businesses employ approximately 2,500 people.

Praxair’s European businesses reported sales totaling €1.3 billion in 2017.

The deal will be finalised upon the completion of Praxair’s merger with fellow industrial gas company Linde.