India-based helium and specialty gas supplier Airlife Gases has acquired a majority stake in Canadian helium exploration and production company Royal Helium.
Airlife Gases now holds about 52.9% of Royal Helium through its purchase of shares and share purchase warrants.
With this majority stake the company has been given the exclusive right to enter into an offtake agreement for all helium and specialty gases produced by Royal Helium’s subsidiaries.
Airlife can also appoint enough directors to control Royal Helium’s board, including naming the board’s chair and granted the corporate naming rights of Royal Helium, subject to regulatory and shareholder approval.
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