Messer Agrees to GIC Stake Sale at More Than €12 Billion Value

Messer SE secured an investment from GIC Pte that values the industrial gas maker at more than €12 billion ($12.9 billion) including debt, marking the second mega deal in as many months for a century-old, family-owned company in Germany.

Bad Soden-based Messer announced the investment from the Singaporean sovereign wealth fund in a statement on Tuesday that confirmed an earlier Bloomberg News report. While financial terms were not disclosed, people with knowledge of the matter said GIC is paying around €2 billion for a less than 25% stake in Messer.

“The global market for industrial gases is attractive and ...