Private equity firm PAG plans to merge its two Chinese industrial gases portfolio companies and seek an offshore listing for the combined entity estimated to be worth more than $10bn, two people with knowledge of the matter said.

Hong Kong-based PAG is discussing with banks a plan to combine Yingde Gases Group with Shanghai Baosteel Gases Group, both Shanghai-headquartered, and then list the merged entity in what could be a billion dollar float, they told Reuters.…

This data comes from the ChinaPulse.com media intelligence and smart news insights monitoring platform.