Chart Industries is to be sold with the deal expected to be completed by October.
The company has announced it has reached an agreement with First Reserve Corporation, a private equity firm which specialises in the energy industry.
First Reserve Fund, an affiliate of First Reserve Corporation, will acquire outstanding shares for a cash purchase price of $65.74 per share, less Chart’s transaction expenses.
It is expected that Chart’s outstanding debt will be repaid by First Reserve at closing, for a total transaction value of approximately $460 million.
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