Air Products in Final Negotiations to Form Joint Venture in Jazan Economic City

Date : 10/29/2019 @ 5:04PM
Source : Dow Jones News
Stock : Air Products and Chemicals Inc (APD)
Quote : 236.45  2.98 (1.28%) @ 1:00AM
After Hours
Last Trade
Last $ 236.45 ◊ 0.00 (0.00%)

Air Products in Final Negotiations to Form Joint Venture in Jazan Economic City

Air Products and Chemicals (NYSE:APD)
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   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.

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