Market Chatter: Macquarie's South Korean Unit DIG Airgas Attracts KKR, Brookfield Investment

MT Newswires Live06-10

Macquarie is seeking to sell DIG Airgas in a deal that could value the South Korean gas company at up to $3.6 billion, Reuters reported Tuesday, citing sources familiar with the matter.

Bidders include KKR (KKR), Brookfield Asset Management (BAM), and Air Liquide, along with infrastructure investors I Squared Capital and Stonepeak, the report said.

Air Products (APD) has also expressed interest in the Seoul-based firm, which is the country's third-largest industrial gas producer, the report added.

Macquarie has appointed Goldman Sachs (GS) and JPMorgan (JPM) to manage the sale and expects non-binding bids within this month, the report said.

DIG Airgas generates $170 million to $180 million in Ebitda, and Macquarie aims for a valuation of 18 to 20 times core earnings, the report said.

Macquarie, KKR, Brookfield, Air Liquide, Air Products, Goldman Sachs, and JPMorgan did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment