Drew acts for Air Products and Chemicals, Inc in US$3.8b sale of a segment of its business to Evonik Industries AG

17 May 2016

The Capital Markets team, led by Directors Sin Boon Ann, Yap Siew Ling and Associate Michael Kwan, is acting as the Singapore counsel for Air Products and Chemicals, Inc in its disposal of the performance materials division of its materials technologies segment to Germany’s Evonik Industries AG for US$3.8 billion in cash.

This transaction is expected to close before the end of 2016, and is subject to regulatory approvals and customary closing conditions.

Air Products and Chemicals, Inc is a world-leading industrial gases company listed on the New York Stock Exchange which has operations in over 50 countries. It was ranked number 284 on the Fortune 500 annual list of public companies.