Chart Industries to be sold

Chart Industries, Inc. announced Wednesday that it has reached a definitive agreement to sell the company to First Reserve Corporation, a leading private equity firm specializing in the energy industry.

According to the terms of the deal, First Reserve Fund X, LP, an affiliate of First Reserve Corporation, will acquire all outstanding shares for a cash purchase price of $65.74 per share, less Chart’s transaction expenses (which will result in a reduction of at least $0.90 per share, but more likely is expected to result in a reduction of $1.00 to $1.50 per share).

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