Air Liquide said it was examining the possible sale of its German unit Schuelke. The Group intends to continue to develop its healthcare activities, while providing schülke with the best opportunities for its long-term development.
“Being at the very preliminary stage of this process, different scenarios are being reviewed and no assurance can be given that this will result in a divestment,” Air Liquide said in a statement on Wednesday.
Earlier this month, Reuters reported that Air Liquide was putting Schuelke up for sale in a deal worth up to 1 billion euros ($1.1 billion) as it seeks to streamline its operations and shed non-core assets, with investment bank JP Morgan advising Air Liquide on the matter.
Schuelke was bought by Air Liquide in 1996 but no longer fits with its focus on supplying industrial gases, has annual sales of 335 million euros ($369 million). Schülke, headquartered in Germany, is a leader in the infection, prevention and hygiene sector. With 130 years of experience, schülke has more than 1,200 employees in 22 countries.