In South Korea, The Korea Economic Daily reported that US industrial gas maker Air Products and Chemicals has put its South Korean unit up for sale for an estimated $3.6 billion. According to the report, Air Products and Chemicals has selected Citigroup Global Markets as the lead manager to sell the company and complete transactions by year’s end. The US headquarters and its affiliates Air Products Manufacturing Corp. and Air Products International own 33.9%, 24.5% and 41.6% stakes, respectively in the Korean unit Air Products Korea. The parent company plans to use the proceeds for investment in its blue hydrogen business, the report added, citing sources with knowledge of the matter.
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