By Pierre Bertrand

Air Liquide said Thursday that it has entered into exclusive negotiations for the sale of its oxygen and nitrogen aerospace technology activities to Safran Aerosystems.

The sale relates to Air Liquide's portable oxygen breathing equipment, its on-board oxygen and nitrogen generation, storage and distribution, as well as its ground support and optronics activities, the French industrial gases maker said in a statement. The sale excludes the company's marine-related cryogenic activities, Air Liquide said.

The deal should be finalized by early 2024 and is subject to a final and definitive agreement, it said.

The company didn't disclose financial details.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

June 01, 2023 03:16 ET (07:16 GMT)

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