Regulatory News:
Air Liquide (Paris:AI) completes the refinancing of the
Airgas acquisition in 3 steps:
- A 3 billion euro bond issue placed on June 6, 2016
- A 3.3 billion euro share capital increase with preferential
subscription rights for existing shareholders (the “Rights Issue”),
launched on September 13, 2016, the results of which are
communicated today
- A 4.5 billion US dollar bond issue placed on September 22,
2016
Air Liquide (the “Company”) announces today it has completed the
refinancing of the acquisition of Airgas, one of the main
industrial gases and related products and services suppliers in the
US.
The final gross proceeds of the Rights Issue, which was the 2nd
step of the refinancing, amount to 3,283 million euros and will
result in the issuance of 43,202,209 new shares (the “New
Shares”).
Following the subscription period, which ended on September 28,
2016, total subscription orders amounted to approximately 6.3
billion euros, representing a total subscription rate of
191.2%:
- 40,334,395 New Shares were subscribed
on an irreducible basis;
- 42,266,306 New Shares were requested on
a reducible basis and will only be satisfied with respect to
2,867,814 New Shares.
Commenting on the success of this refinancing, Benoît
Potier, Chairman and CEO of Air Liquide, said: “We are
delighted by the success of this capital increase, which allows us
to complete the refinancing of our acquisition of Airgas within a
very short timeframe. In less than one year, we were able to
complete the entire acquisition and refinancing processes. The
integration of Airgas, which was initiated right after closing, is
proceeding according to our plan.
“We would like to thank our shareholders, both individual and
institutional, for their ongoing support.”
Settlement, delivery and start of trading on Euronext Paris
(Segment A) of the New Shares will take place on October 11, 2016.
The New Shares, which will carry dividend rights and will entitle
their holders to any dividends declared by the Company from the
date of issue, will be, as from their issue date, fully fungible
with the Company’s existing shares and will be traded under the
same ISIN code as the Company’s existing shares, ISIN code
FR0000120073. As from October 11, 2016, the share capital of L’Air
Liquide SA will amount to €2,138,509,373.00, consisting of
388,819,886 shares.
Note: The English version of this press release may differ from
the French version for regulatory reasons.
UPCOMING DATES
Third quarter 2016 revenue:October 25, 2016
The world leader in gases, technologies and services for
Industry and Health, Air Liquide is present in 80 countries with
approximately 68,000 employees and serves more than 3 million
customers and patients*. Oxygen, nitrogen and hydrogen are
essential small molecules for life, matter and energy. They embody
Air Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Air Liquide’s ambition is to lead its industry, deliver
long-term performance and contribute to sustainability. The
company’s customer-centric transformation strategy aims at
profitable growth over the long term. It relies on operational
excellence, selective investments, open innovation and a network
organization implemented by the Group worldwide. Through the
commitment and inventiveness of its people, Air Liquide leverages
energy and environment transition, changes in healthcare and
digitization, and delivers greater value to all its
stakeholders.
Air Liquide’s revenues amounted to €16.4 billion in 2015, and
its solutions that protect life and the environment represented
more than 40% of sales. On 23 May 2016, Air Liquide completed its
acquisition of Airgas, which had revenues amounting to $5.3 billion
(around €4.8 billion) for the fiscal year ending 31 March 2016.
Air Liquide is listed on the Paris Euronext stock exchange
(compartment A) and belongs to the CAC 40 and Dow Jones Euro Stoxx
50 indexes.
* Following the acquisition of Airgas on 23 May 2016
Disclaimer
These materials and the information contained herein do not
constitute an offer to sell or subscribe, nor the solicitation of
an order to purchase or subscribe, securities in any country other
than France.
These materials are not an offer of securities for sale nor the
solicitation of an offer to purchase securities in the United
States of America or any other jurisdiction. The securities
referred to herein may not be offered or sold in the United States
of America absent registration or an exemption from registration
under the U.S. Securities Act of 1933, as amended. Air Liquide does
not intend to register any portion of the planned offer in the
United States of America or to conduct a public offering of
securities in the United States of America.
This document does not contain or constitute an invitation,
inducement or solicitation to invest.
This document does not constitute a prospectus within the
meaning of Directive 2003/71/EC of the European Parliament and the
Council of 4 November 2003, as amended (the “Prospectus
Directive”).
With respect to the Member States of the European Economic Area
(each a “Relevant Member State”), no action has been
undertaken or will be undertaken to make an offer to the public of
the securities requiring a publication of a prospectus in any
Relevant Member State, other than France. As a result, the new or
existing securities of Air Liquide may not be offered and will not
be offered in any Relevant Member State other than France, except
(i) to any legal entity which is a qualified investor as defined
under the Prospectus Directive, (ii) to fewer than 150, natural or
legal persons (other than qualified investors as defined in the
Prospectus Directive) as permitted under the Prospectus Directive;
or (iii) in any other circumstances not requiring Air Liquide to
publish a prospectus as provided under Article 3(2) of the
Prospectus Directive and/or regulations applicable in the Relevant
Member State.
For the purposes of this provision, an “offer to the public” in
relation to the new or existing securities of Air Liquide in any
Relevant Member State means the communication in any form and by
any means of sufficient information on the terms of the offer and
the new or existing securities of Air Liquide to be offered so as
to enable an investor to decide to purchase the new or existing
securities shares of Air Liquide, as the same may be varied in that
Member State by any measure implementing the Prospectus Directive
in that Member State.
This press release is directed only at and is for distribution
only to persons who (i) are outside the United Kingdom, (ii) are
“investment professionals” falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (as amended) (the “Order”), (iii) are persons falling
within Article 49(2)(a) to (d) (“high net worth companies,
unincorporated associations etc.”) of the Order or (iv) are other
persons to whom an invitation or inducement to engage in investment
activity (within the meaning of the Financial Services and Markets
Act 2000) in connection with the issue or sale of any securities
may otherwise lawfully be communicated or caused to be communicated
(all such persons in (i), (ii), (iii) and (iv) together being
referred to as “Relevant Persons”). This press release is
directed only at Relevant Persons and must not be acted on or
relied on by persons who are not Relevant Persons. Any investment
or investment activity to which this press release relates is
available only to Relevant Persons and will be engaged in only with
Relevant Persons.
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