Linde plc today said it had completed the sale of selected assets of Linde Korea to IMM Private Equity, in accordance with the recent merger between Linde AG and Praxair, Inc. and the Korea Fair Trade Commission.

The assets divested include bulk and on-site business in Giheung, Pohang and Seosansites as well as oxygen and nitrogen on-site generators.

The business generated annual sales of approximately $220m and an EBITDA of just over $83m in 2017.

The purchase price of $1.2bn will be subject to customary adjustments at closing.