July 26, 2017 2:06 AM ET

Chemicals

Company Overview of Daesung Industrial Gases Co., Ltd.

Company Overview

Daesung Industrial Gases Co., Ltd. produces and sells various gases and related products in South Korea. The company provides industrial gases, such as oxygen, nitrogen, argon, and hydrogen; and specialty gases for semiconductors, ultra-high purity gases, standard gases, gas mixtures, and other specialty gases. It delivers gases through pipe-line and on-site distribution systems. The company also designs, produces, imports, sells, and distributes gas facilities and equipment, such as gas generation systems, gas purifying facilities, cryogenic equipment, gas analyzers, gas application equipment, and specialty gas engineering products, including gas purifying, filling facilities, etc. In addit...

Gwanhun-Dong 155-2

Jongro-gu

Seoul,  110-300

South Korea

Founded in 1979

Phone:

82 2 721 0800

Key Executives for Daesung Industrial Gases Co., Ltd.

Chief Executive Officer
Age: 75
President
Age: 70
Senior Managing Director
Age: 64
Managing Director
Age: 62
Managing Director
Age: 58
Compensation as of Fiscal Year 2017.

Daesung Industrial Gases Co., Ltd. Key Developments

Private Equity Firm Reportedly To Acquire Daesung Gases

Daesung Industrial Gases Co., Ltd. reportedly to be acquired by private equity firms. Daesung Industrial Gases will likely be acquired by one of three private equity firms including MBK Partners, TPG Capital, L.P. (TPG) and Pacific Alliance Group (PAG) as strategic investors SK Group and Hyosung ONB Co.,Ltd (KOSDAQ:A097870) decided not to participate in the sale of the firm. According to officials of investment banks, on February 2, 2017, private equity firms submitted bids by February 1, 2017, afternoon deadline. The three, which have already been shortlisted, reportedly offered over KRW 1 trillion each to acquire the nation's leading industrial gas supplier. SK Group and Hyosung ONB reportedly offered less than KRW 1 trillion, while two global gas suppliers including Air Products and Chemicals, Inc. (NYSE:APD) and Linde Gas AG withdrew due to the high price. Daesung Industrial Gases' parent company Daesung Group Partners.Co.,Ltd. (KOSE:A005620) and its largest shareholder, The Goldman Sachs Group, Inc. (NYSE:GS), are seeking to sell the firm for around KRW 1.5 trillion. If the private equity firms fail to offer to pay the price satisfying the sellers, Goldman Sachs may acquire 38% of shares currently held by Daesung Group Partners, according to some observers.

Daesung Industrial Gases Up For Sale

Daesung Group Partners.Co.,Ltd. and Goldman Sachs Group seek to sell off 100% of their shares in Daesung Industrial Gases Co., Ltd. for around 1.5 trillion won.

Investors Reportedly Seeks To Acquire Daesung Industrial Gases

SK Holdings Co., Ltd. (KOSE:A034730) said it submitted a non-binding bid to buy Daesung Industrial Gases Co., Ltd. that has been put up for sale by The Goldman Sachs Group, Inc. (NYSE:GS) and others in a deal a source said could be valued at around $2 billion. Shareholders in Daesung Industrial Gases, including Goldman and Daesung Group Partners.Co.,Ltd., put up for sale the 100% stake in the firm earlier this year. Besides SK, The Blackstone Group L.P., KKR & Co. L.P. and The Carlyle Group LP also submitted non-binding bids, South Korean online media Money Today reported, citing unnamed industry sources. Goldman Sachs, Blackstone, KKR and Carlyle declined comment. A spokesman for SK Holdings could not be immediately reached for comment.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 23, 2017
--
Merger/Acquisition
February 24, 2017
--
Merger/Acquisition
February 24, 2017
Daesung Group Partners Co., Ltd., Industrial Gases Business
 

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