Sullivan & Cromwell Guides Praxair In $1B Beverage Co. Buy

Law360, New York (February 5, 2013, 2:17 PM EST) -- Industrial gas supplier Praxair Inc. has inked a deal to pick up beverage carbonator NuCO2 Inc. from private equity firm Aurora Capital Group for $1.1 billion, diversifying its business and growing its reach in the beverage industry, the buyer announced Tuesday.

Praxair plans on funding the cash deal mostly by long-term bonds, which will raise its debt level from about $7.3 billion to $8.4 billion initially, James S. Sawyer, executive vice president and chief financial officer of Praxair, said in an investor call. But the company...
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