Air Products in Final Negotiations to Form Joint Venture in Jazan Economic City
October 29 2019 - 1:04PM
Dow Jones News
By Dave Sebastian
Air Products & Chemicals Inc. (APD) said it is in final
negotiations with Saudi Arabian Oil Co., or Saudi Aramco, ACWA
Power and Air Products Qudra to create a joint venture to buy the
gasification, power and industrial gas assets at Jazan Economic
City in Saudi Arabia for $11.5 billion.
Saudi Aramco, Air Products and ACWA Power first declared their
intention to form the joint venture in August 2018.
Air Products said it expects to close the transaction by the end
of the year and will provide more comments on its Nov. 7 earnings
call.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 29, 2019 12:49 ET (16:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Apr 2023 to Apr 2024
