Massy Holdings Limited has confirmed that it has completed the acquisition of Industrial Gases Limited, IGL, for approximately 140 million US dollars.

IGL which is a Jamaican company that distributes cooking gas, manufactures and distributes industrial and medical gases.

Massy which is a Trinidad own company got regulatory approval to proceed with the acquisition of IGL, even though concerns were raised that combining IGL with Gas Pro, the brand through which Massy distributes cooking gas in Jamaica, could result in the T-and-T company having a virtual monopoly in Jamaica’s cooking gas market.

Together, Gas Pro and IGL account for at least 70 percent of all cooking gas sold in Jamaica.