A new chapter in your Group’s history

Editorial with Benoît Potier,
Chairman and CEO

Following the acquisition of Airgas and the launch of NEOS, the Group’s new company program for the 2016-2020 period, your Group enters a new phase in its development. This newsletter encapsulates these new changes through various topics.

First, the United States were naturally the “region” we wanted to feature. Through the acquisition of Airgas, Air Liquide has strengthened its position in the United States. The leading global market for industrial gases, the country is also at the cutting edge of innovation and digital technologies.

Industrial Merchant, one of Air Liquide’s historic and core activities, is highlighted in this issue. The business is undergoing a major transformation. Airgas brings to the Group the expertise of its multi-channel distribution network, particularly through e-commerce, adding to Air Liquide’s technologies and new offerings, to provide additional value for all our customers.

Our Group’s new company program, NEOS, is also presented in your newsletter. It guides us to achieve our Ambition and reach our objectives on the 2016–2020 period. Our Corporate Social Responsaibility (CSR) approach is presented and demonstrates our contribution to a more sustainable world.

Lastly, I would like to get back on the recent key event of the Airgas acquisition refinancing. The share capital increase was a success thanks to the shareholders’ participation. I would like to thank them for this ongoing support. The loyalty of our shareholders is important to us and has enabled the Group’s development over the years.

Thank you for your trust and your loyalty. Enjoy your reading!

Discover the share capital increase in pictures (only available in French)

Key fact
Capital increase raises €3.3 billion

Air Liquide launched in September 2016 a share capital increase, with preferential subscription rights for existing shareholders (the “Rights Issue”), for an amount of 3,283 million euros. The transaction resulted in the issuance of 43.2 million new shares. The share capital increase was one of the three steps of the refinancing of the acquisition of Airgas, after a 3 billion euros bond issue successfully placed in June 2016 followed by a 4.5 billion US dollars bond issue successfully placed in September 2016.

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