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Warburg Pincus joins forces with Shanghai Baosteel Gases

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Staff writer ▼ | August 21, 2014
Warburg Pincus and Shanghai Baosteel Gases, Chinese industrial gas producer, announced the formation of a strategic partnership to jointly explore and develop projects in the industrial gas field.
Shanghai Baosteel Gases
Expanding the portfolio   Warburg Pincus is in China since 1994
Under the partnership, the two parties also reached an agreement with Henan Jinkai Chemical Investment Holding Group to acquire its industrial gas assets for 3 billion yuan ($489 million).

Established in 2008, Baosteel Gases is a wholly-owned subsidiary of Baosteel Metal. Baosteel Gases cover a variety of areas in industrial gases, synthetic gases, packaged gases and new energy, operating through more than 10 subsidiaries in China's eastern, northwest and southern regions.

Since entering the Chinese market in 1994, Warburg Pincus has invested more than $4 billion into leading Chinese companies in industrial, energy, consumer and retail, healthcare, real estate and TMT industries.