Linde AG to sell gases business in North America and certain business activities in South America to a consortium comprising companies of German industrial gases manufacturer Messer Group and CVC Capital Partners Fund VII.
The business to be sold generated annual sales of approximately $1.7 billion (1.4 billion EUR) and an EBITDA of just over $360 million (305 million EUR) in 2017.
The business to be sold includes substantially all of Linde's US bulk business, and its business in Brazil, Canada and Colombia. The purchase price of $3.3 billion (2.8 billion EUR) will be subject to customary adjustments at closing. Linde considers a divestiture of such business to be necessary in order to allow merger clearance of the proposed business combination by the relevant competition agencies. This sale is still subject to the completion of the proposed business combination of Linde and Praxair and regulatory approvals.
Linde AG to sell gases business in North America and certain business activities in South America to a consortium comprising companies of German industrial gases manufacturer Messer Group and CVC Capital Partners Fund VII.
The business to be sold generated annual sales of approximately $1.7 billion (1.4 billion EUR) and an EBITDA of just over $360 million (305 million EUR) in 2017.
The business to be sold includes substantially all of Linde's US bulk business, and its business in Brazil, Canada and Colombia. The purchase price of $3.3 billion (2.8 billion EUR) will be subject to customary adjustments at closing. Linde considers a divestiture of such business to be necessary in order to allow merger clearance of the proposed business combination by the relevant competition agencies. This sale is still subject to the completion of the proposed business combination of Linde and Praxair and regulatory approvals.
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