Air Liquide Completes Airgas Acquisition; To Finalize Sale Of Certain Assets

(RTTNews) - Air Liquide (AIQUY.PK) announced it has completed the acquisition of Airgas, Inc. Pascal Vinet, Member of the Air Liquide Group's Executive Committee, will be appointed CEO of Airgas, after a brief, post-closing transition phase. During the transition phase, Michael Molinini will continue with his current responsibilities, serving as Interim CEO of Airgas.

Andrew Cichocki has been promoted to the role of COO of Airgas. Pierre Dufour, Senior Executive Vice-President and Board Director of Air Liquide, has been appointed Chairman of the Board of Airgas.

Air Liquide said it will pursue and finalize sales of certain assets of the combined company in line with the divestiture process described in the U.S. Federal Trade Commission's press release on 13 May 2016. The company said the contemplated divestitures are in line with what Air Liquide was expecting prior to the transaction, and they will reduce the combined company's sales by approximately $270 million annually.