French company Air Liquide International has struck a deal to sell its Trinidad & Tobago business to Massy Holdings Limited, which is acquiring 100 per cent of the shareholdings for US$51.5 million to US$58 million.
Massy said the higher-end of the price range is subject to an earn-out agreement, payable annually, under specified conditions. Earn-outs generally relate to additional compensation to a seller if the business hits particular financial targets.
The deal signed November 28 still requires regulatory approval from the Trinidad and Tobago Fair Trading Commission.
The Massy group has five main operating segments – retail, gas products, motor and machines, financial services and real estate. The gas segment earns revenue from liquefied petroleum gases, and industrial gases such as nitrogen, oxygen and carbon dioxide. The segment also engages in the build-out of…
Massy buys gas assets amid seller’s shift to clean energy | Business
