Chart Industries has announced a definitive agreement to sell the company to First Reserve, the leading private equity firm specialising in the energy industry.
According to the terms of the deal, First Reserve Fund X, LP, an affiliate of First Reserve Corporation, will acquire all outstanding shares for a cash purchase price of $65.74 per share, less Chart’s transaction expenses.
The total transaction value is approximately $460 million.
Samuel F. Thomas, chief executive officer and president of Chart Industries, said: “This strategic transaction with First Reserve provides good value to our existing stockholders.
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