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7/16/2018, 2:43 PM (Source: TeleTrader)
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Linde to get $3.3B for units in Americas

After an earlier update about a looming divestment, Linde AG said on Monday that it struck an agreement to sell the majority of its operations in the Americas to Messer Group GmbH and CVC Capital Partners Ltd. The business with industrial gases will bring $3.3 billion, according to the statement.

The exit from industrial gases assets is part of the efforts to obtain the regulatory green light for an $83 billion merger with Praxair Inc, the German company acknowledged. It added it expects the deal to be executed by the end of the year.

The acquisition includes units in Brazil, Canada and Colombia.​ "The business to be sold generated annual sales of approximately $1.7 billion (€1.4 billion) and an EBITDA of just over $360 million (€305 million) in 2017... The receipt of regulatory approvals outstanding in other jurisdictions for the proposed business combination may require that the merger partners divest certain further businesses," Linde said.

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