FRANKFURT : German industrial gases company Messer said on Tuesday that Singaporean sovereign wealth fund GIC has invested a minority stake in the business as part of a strategic partnership.The proceeds from the investment will help Messer take full control of its Messer Industries joint venture, financi
FRANKFURT : German industrial gases company Messer said on Tuesday that Singaporean sovereign wealth fund GIC has invested a minority stake in the business as part of a strategic partnership.
Messer will become the sole owner of Messer Industries, bringing all its activities under one roof. Messer posted sales of 4.16 billion euros with core earnings of 1.17 billion euros in the past financial year. "The global market for industrial gases is ... a durable industry and will see new opportunities from the green transition in the long term," said Henry Ormond, deputy head of private equity in Europe at GIC.
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