Air Products has announced that it has submitted a letter to Yingde Gases Group Co. Ltd setting forth a preliminary, non-binding indication of interest to acquire all of the outstanding shares of Yingde.
The deal is subject to the satisfaction of certain conditions described in the Proposal Letter.
Air Products has confirmed that it has not currently reached an agreement with Yingde. It also emphasised that there is no guarantee that such an agreement will be reached and, even if an agreement is reached, there cannot be any assurance that a transaction will be completed.