Air Liquide Maintains Moody's Ratings Despite DIG Airgas Acquisition Plans

Moody's maintains Air Liquide's ratings despite planned DIG Airgas takeover. Air Liquide is a world leader in industrial and medical gas production, with a presence in industries, healthcare, and electronics markets. The company's net sales are distributed geographically across France, Europe, the US, Americas, and Asia/Pacific.

Moody's Investors Service has maintained Air Liquide's ratings following the company's planned acquisition of DIG Airgas. The French industrial-gas company announced a binding agreement to purchase DIG Airgas for 2.85 billion euros ($3.31 billion), including debt and cash [1]. The acquisition is expected to close in the first half of 2026.

Air Liquide, a world leader in industrial and medical gas production, is expanding its market position in South Korea with this strategic move. The company aims to diversify its customer base and tap into growth industries such as semiconductors and secondary batteries [1]. DIG Airgas, which posted turnover of 510 million euros in 2024 and employs approximately 550 people, is one of the largest industrial-gas players in South Korea [1].

Moody's noted that the acquisition aligns with Air Liquide's growth strategy and will contribute to the company's net-profit growth as soon as a year after integration [1]. The acquisition is also strategically positive given the limited merger-and-acquisition opportunities in the consolidated industrial-gas sector, according to analysts at Jefferies [1].

Air Liquide's net sales are distributed geographically across various regions, including France, Europe/Middle East/Africa, the United States, Americas, and Asia/Pacific [2]. The company's activities include the production of industrial and medical gases, as well as the supply of control equipment and services for fluid systems, gas and liquid chemical management, home care and hospital hygiene services, and operating room equipment [2].

References:
[1] https://www.tradingview.com/news/DJN_DN20250822002084:0-air-liquide-to-buy-south-korea-s-dig-airgas-for-3-3-billion-update/
[2] https://www.marketscreener.com/news/air-liquide-to-acquire-dig-airgas-for-2-85-billion-euros-ce7c50dada81f724