French industrial gases company Air Liquide has agreed to acquire South Korea’s DIG Airgas for an enterprise value of approximately €2.85 billion (around $3.3 billion). The binding agreement was signed with Macquarie Asia-Pacific Infrastructure Fund 2, the current owner of DIG Airgas. This acquisition marks Air Liquide’s largest external growth operation since 2016 and is part of its strategic expansion in Asia, particularly in South Korea, which is the fourth-largest market globally for industrial and medical gases. The takeover aims to strengthen Air Liquide’s industrial gas operations in the region, with a focus on growing sectors such as semiconductors and secondary batteries. François Jackow, CEO of Air Liquide, described the deal as transformative for the group’s presence in Asia and especially in the Korean market.